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MNI BRIEF: BOJ To Proceed Cautiously Towards 2% Target - Ueda

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan Governor Kazuo Ueda said on Monday that the Bank will cautiously proceed towards achieving its 2% price target in a stable and sustainable manner.

“Thus far, we have made progress in moving away from zero [percent] and lifting inflation expectations, but we must now re-anchor them, this time at the 2% target,” Ueda said at the 2024 BOJ-IMES Conference. “We will proceed cautiously, as do other central banks with inflation-targeting frameworks. While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us.”

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Bank of Japan Governor Kazuo Ueda said on Monday that the Bank will cautiously proceed towards achieving its 2% price target in a stable and sustainable manner.

“Thus far, we have made progress in moving away from zero [percent] and lifting inflation expectations, but we must now re-anchor them, this time at the 2% target,” Ueda said at the 2024 BOJ-IMES Conference. “We will proceed cautiously, as do other central banks with inflation-targeting frameworks. While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us.”

Keep reading...Show less