OECD says BOJ inflation goal hard to meet, needs new commitment

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Koichi Kamoshida - Getty Images

The Bank of Japan must make a new commitment to meet its 2 percent inflation target because achieving that goal by around next spring will be difficult, a senior official at the Organisation for Economic Cooperation and Development said on Monday.

OECD acting chief economist Rintaro Tamaki, speaking at a news conference, urged the Japanese government to proceed with a second sales tax increase next year as planned to help fix its tattered public finances.