BOJ Ex-Director: Kuroda should drop inflation target

In an interview with Bloomberg, a former Bank of Japan (BOJ) executive, Kazuo Momma, noted that the bank should drop its two-year timeframe for inflation to avoid having to take more drastic action to reach the distant goal. 

Key Quotes:

It’s already conducting very bold stimulus

If they deploy more policies that defy common sense, they’ll need to do a certain amount of explaining and, above all, it will be difficult to discern the pros and cons

I see no major risk to compel the BOJ to expand stimulus in the near future as risks in the global economy aren’t increasing

There is little change in Japan’s economic fundamentals