BOJ missing the 2-year inflation deadline acceptable amid sliding oil prices – Japan’s PM Abe

FXStreet (Mumbai) - Speaking in the Japanese Parliament on Monday, Japan's Prime Minister Shinzo Abe said that he has full confidence in Bank of Japan (BOJ) Governor Haruhiko Kuroda's handling of monetary policy. Therefore, It is acceptable for the central bank to miss its inflation target deadline.

Japan’s PM Abe noted, "Oil price falls are positive for Japan's economy. We accept the BoJ's explanation that hitting its price target has effectively become difficult."

Abe expressed confidence that Japan's economy remained on a solid recovery path, adding that with oil prices continuing to decline, the BoJ missing the two-year deadline could not be helped.