Raising the Inflation Target: Lessons from Japan

Taisuke Nakata

No 2020-01-08-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: In January 2013, the Bank of Japan increased its inflation target from 1 percent to 2 percent in an effort to end chronic deflation that had lasted for more than a decade. In this note, the author reviews this Japanese experience and highlights possible lessons for other central banks that may be interested in examining the possibility of raising their inflation target at some point in the future.

Date: 2020-01-08
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2020-01-08-1

DOI: 10.17016/2380-7172.2493

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