March 22, 2013 / 12:05 AM / 5 years ago

Japan Finmin: 2 pct inflation target will not easy to achieve

TOKYO, March 22 (Reuters) - Japanese Finance Minister Taro Aso said on Friday that it would not be easy to achieve the Bank of Japan’s new 2 percent inflation target.

“It will take a considerable period of time to turn deflation into inflation and to meet the 2 percent inflation target,” Aso told reporters after a cabinet meeting.

Asked about the need to revise the law guaranteeing independence of the BOJ if it fails to meet the inflation target, Aso said it would be wrong to put all blame on the central bank.

The new BOJ governor Haruhiko Kuroda said on Thursday the central bank is ready to use all means available, including buying longer-term assets, to achieve its 2 percent inflation target, underlining his resolve to beat nearly two decades of grinding deflation.

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