(Bloomberg) -- One of the Bank of Japan’s leading advocates for unwinding monetary stimulus indicated the central bank might attain its long sought-after goal of reaching 2% inflation on a stable basis by early next year.Most Read from BloombergCitadel Vets 69,000 Intern Applicants to Find Next Math GeniusesPutin Agrees to Visit China in First Trip Since Arrest WarrantWhat to Do With a 45-Story Skyscraper and No TenantsCrypto Scores Landmark US Legal Win With Grayscale ETF RulingStocks Up Most S
“The achievement is finally and clearly within sight after a decade of large-scale monetary easing aimed at attaining it,” Naoki Tamura, the board member, said in a speech to local business leaders in Kushiro, Hokkaido Wednesday.
It remains to be seen whether Tamura’s view can win consensus on the nine-member board. BOJ Governor Kazuo Ueda said on Saturday there’s a ways to go on meeting the sustainable 2% target. “We think underlying inflation is still a bit below our target of 2%,” Ueda said during a panel discussion at the Federal Reserve symposium in Jackson Hole.
Earlier this week, a leading Japanese expert on price trends accused the BOJ of skewing its inflation forecast too low in order to quell speculation over policy normalization. “You’re going to deviate hugely from the right course of action if you try to justify policy with projections that aren’t true,” Tsutomu Watanabe, an economics professor at the University of Tokyo, said in an interview.
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