Percent and Inflation

bank: Now, after years of trying almost every trick in the book to reflate the economy, the Bank of Japan is finally bowing to the inevitable, according to The Japan Times. The BOJ's dot plot shows that almost none of the central bank's nine Policy Board members believe that the country will reach its 2 percent inflation target. The country has had ultra-low interest rates and run huge government deficits for decades, with no sign of the inflation that many economists assume would be the natural result. Accordingly, the bank has pushed back the date at which it expects to hit its 2 percent target. If some outside force intervenes to raise inflation to 2 percent, the BOJ will declare that it hit the target, but it's pretty clear it has absolutely no idea how to engineer a deliberate rise in inflation. That's a little comical, since by now it should be fairly obvious that the date will only get pushed back again and again. (news.financializer.com). As reported in the news.