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SHIMONOSEKI, Japan, July 29 (Reuters) - Bank of Japan board member Koji Ishida said on Tuesday the central bank’s 2 percent inflation target is not a rigid one pegged to the core consumer price data, but one that leaves the bank with policy flexibility.
“We have to scrutinise various elements of the economy” in determining whether the price target is met, Ishida said in a news conference after meeting business leaders in Shimonoseki, western Japan.
The core consumer price index is an important factor, but not the only indicator the central bank looks at in deciding whether Japan has hit its price goal, he said.
The BOJ has stood pat since launching an intense burst of monetary stimulus in April last year, when it pledged to double base money via aggressive asset purchases to accelerate consumer inflation to 2 percent in roughly two years. (Reporting by Leika Kihara; Editing by Chris Gallagher)