BOJ Adopts Abe’s 2% Target in Commitment to End Deflation

 http://www.bloomberg.com/news/2013-01-22/boj-adopts-abe-s-2-target-in-commitment-to-end-deflation.html

The Bank of Japan made its strongest commitment yet to end two decades of stagnation, shifting to Federal Reserve-style open-ended asset purchases while disappointing investors by delaying the program until next year.
Governor Masaaki Shirakawa and six of nine board members voted for a 2 percent inflation target, to be achieved “at the earliest possible time” — a pace not sustained in Japan since the early 1990s. While judging that the economy is “relatively weak,” and that consumer prices will be flat for the time being, the BOJ refrained from adding immediate stimulus.