BOJ Is Probably Stuck in Limbo, Says BofAML’s Devalier

The transcript discusses the Bank of Japan's (BOJ) current policy stance and the challenges it faces in achieving its 2% inflation target. Economists expect more easing from the BOJ, but the bank is hesitant due to global economic conditions and the actions of other central banks like the Fed and ECB. The BOJ is in a difficult position as it waits for signs of economic recovery and struggles with entrenched inflation expectations. The global trend of central banks having trouble boosting inflation is highlighted, with the BOJ's commitment to overshooting its inflation target adding to its challenges.

What challenges does the Bank of Japan face in achieving its inflation target?

In what way does the stance of other central banks affect the Bank of Japan's policy decisions?