That's certainly plausible, but the last figure shows that they've been missing their 2 percent inflation target for years now. (jaredbernsteinblog.com)
There is the further point that the logic that led to the adoption of the 2 percent inflation target years ago suggests that it is too low now. (larrysummers.com)
Major central banks» 2 percent inflation target appeared elusive as wage growth hasn't caught up with a stronger economy and jobs market. (cnbc.com)