Bank of Japan Governor Haruhiko Kuroda refused in 2013 to water down the central bank's commitment to attaining 2 percent inflation in "about two years," brushing aside worries among some board members about the ramifications of missing the target, minutes of the meeting show.
Outgoing Bank of Japan Governor Haruhiko Kuroda has learned the hard way that even a decade of unprecedented monetary easing is not enough to attain a 2 percent inflation target that he once thought would be achievable in two years.