Jan.24 — Bank of Japan Governor Haruhiko Kuroda says the central bank is still “far away” from its 2% inflation goal during a panel at the World Economic Forum’s annual meeting in Davos, Switzerland moderated by China National Institute of Financial Research Chairman Zhu Min.
In This Story: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
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In This Story: Japan
Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.4 million residents.
Japan is a great power and a member of numerous international organizations, including the United Nations (since 1956), the OECD, and the G7. Japan is a leader in the automotive and electronics industries.
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In This Story: Switzerland
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In This Story: World Economic Forum
The World Economic Forum, based in Cologny, Geneva Canton, Switzerland, is an international NGO, founded in 1971. The WEF’s mission is stated as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.