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MNI BRIEF: BOJ Cannot Sufficiently Foresee 2% Target - Ueda

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan Governor Kazuo Ueda said on Monday that the BOJ cannot sufficiently foresee the probability that the economy will achieve the 2% price target in a stable and sustainable manner.

Ueda told lawmakers that Japan’s economy is recovering moderately and the output gap has improved close to zero percent but there is high uncertainty that a virtuous cycle between wages and prices will strengthen in the future.

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Bank of Japan Governor Kazuo Ueda said on Monday that the BOJ cannot sufficiently foresee the probability that the economy will achieve the 2% price target in a stable and sustainable manner.

Ueda told lawmakers that Japan’s economy is recovering moderately and the output gap has improved close to zero percent but there is high uncertainty that a virtuous cycle between wages and prices will strengthen in the future.

Keep reading...Show less