Can't or won't the BoJ normalize its monetary policy? Economists at Commerzbank analyze JPY implications.
Can't or won't?
If it's inability and not unwillingness, Yen weakness would be justified far beyond what it has been so far.
By the way, the fact that the 2% is already within the range that the Council members have been forecasting recently already showed at the time these forecasts were published (i.e., July 31) that at least one Council member does not believe that inflation will fall below 2% again. So the fact that this view also appears in the minutes is not really news. Not everything that comes across as news is news.
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