From The Japan Times · No Author · · 40s
BOJ Governor Ueda on 2% Inflation
Bank of Japan governor Ueda says Japan’s 2% inflation rate may not stay long.
In brief
Bank of Japan governor Ueda says Japan’s 2% inflation rate may not stay long. Bank of Japan governor Ueda states Japan’s 2% inflation rate has not yet become embedded in public consciousness and its duration remains unclear. Originally reported by The Japan Times.
Inflation Target Reached
Bank of Japan governor Ueda says Japan’s inflation rate has reached policymakers’ target of 2%.
“Underlying inflation is 2%, our goal is to keep it there”
Unclear Duration
Ueda states it’s unclear how long the 2% inflation rate will remain in place.
“Whether we could stay in that equilibrium for a very long time to come, we still don’t know”
Inflation Not Embedded
Ueda says the 2% inflation rate hasn’t yet become embedded among the broader Japanese public.
“I think we are in equilibrium”
No Rate Guidance
Ueda didn’t offer specific guidance on raising interest rates further during IMF exchange.
“Ueda didn’t offer any specific guidance on the central bank’s appetite to raise interest rates further”
The bottom line
Bank of Japan governor Ueda states Japan’s 2% inflation rate has not yet become embedded in public consciousness and its duration remains unclear.
