{
  "id": 19474684,
  "title": "Japan advisers urge focus on sustaining growth after inflation hits BOJ goal",
  "url": "https://urgent.news/2026/11/11/japan-advisers-urge-focus-on-sustaining-growth-after-inflation-hits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T09:12:04.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/japan-advisers-urge-focus-sustaining-growth-after-inflation-hits-boj-goal-6542556"
  },
  "original_language": "en",
  "account": "Private-sector advisers to Japan's top economic panel have cautioned that hitting the central bank's 2% inflation target is not sufficient for overcoming deflation. In a submission to the Council on Economic and Fiscal Policy, chaired by the prime minister, they emphasized that sustained increases in real incomes and productivity are essential for a lasting exit from deflation. Despite progress, private consumption remains weak, and real income improvements and long-term growth expectations have not been fully realized. The four external experts stressed that treating inflation as the end goal is misguided; instead, policymakers must focus on fostering a growth-driven economy. They also warned of risks such as energy prices, financial market conditions, and trends in AI-related investment, urging policymakers to monitor these developments and respond flexibly. Prime Minister Sanae Takaichi echoed these sentiments, stating that the ultimate goal is to ensure people feel the benefits of economic growth through higher incomes and productivity. The government pledged to collaborate closely with the Bank of Japan to achieve price stability and sustainable economic growth. The Bank of Japan has indicated the need to continue raising interest rates to mitigate upside price risks and avoid the target inflation rate from being exceeded. The core consumer price index increased by 2.1% annually in September, surpassing the BOJ target for the first time in nine months. The government has refrained from officially declaring victory over deflation, emphasizing the need for clearer evidence that the economy will not revert to persistent price declines. The private-sector members highlighted the importance of close coordination and information sharing between the government and the Bank of Japan to maintain price stability and sustainable economic growth.",
  "summary": null,
  "key_points": [
    "Hitting 2% inflation target insufficient for deflation exit",
    "Sustained real income, productivity growth essential",
    "Focus on growth-driven economy urged by advisers"
  ],
  "editors_take": "Prioritizing real income and productivity over mere inflation targets shifts the policy focus toward building a growth-driven economy that can finally overcome the long-standing threat of deflation.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}