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BOJ urged to taper easing

The Bank of Japan should start tapering its aggressive easing soon or risk hurting the population in its battle for inflation, said Hideo Hayakawa, the central bank’s former chief economist.

Pushing inflation to the bank’s 2% target in a short period will raise living costs without boosting employment or economic growth. Hayakawa recommends the BOJ to drop the 2-year reference, keep the 2% target and taper policy easing slowly. Rising labor costs will keep inflation above 1% anyway. 

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