Reuters Corporate Survey: BOJ seen taking more-than 3 years to achieve 2% price target

The latest Reuters corporate survey on when the BOJ’s will achieve its 2% price target, revealed that a majority of the Japanese firms believe that the central bank could take more-than three year to reach its objective.

This survey was conducted for Reuters by Nikkei Research between August 1-16

Polled 548 big and mid-sized firms that reply on condition of anonymity

244-250 companies answered questions about BOJ policy

Key Headlines:

37% of Japan firms see BOJ’s price goal taking more than three years to achieve,

31% say goal is impossible

Compared to October when the same question was asked in the monthly survey, the number of firms believing it was impossible saw a 5% uptick although the number saying it was achievable within three years also saw a 5% rise

Only 14% of firms want the Bank of Japan to go further with monetary easing

46% want it to stand pat with current policy

40% said they would prefer that the central bank sought some sort of exit from its ultra-easy stance

When asked on BOJ’s policies till data:

52% saying they were satisfied

Remainder saying they were unhappy

On the 2% inflation goal itself, 53% said it should be maintained, 20% believed it should be lowered and 24% said it should be ditched altogether