BOJ’s Ueda ‘can’t tolerate’ underlying inflation further over 2%
The BOJ governor was speaking two weeks ahead of the bank's next policy decision, with observers currently anticipating no change at that gathering.
Bank of Japan Governor Kazuo Ueda declared on Friday that he cannot "tolerate" underlying inflation continuing to exceed 2%, signaling that the central bank may raise interest rates again in the near future. Speaking in Bangkok during a gathering of world finance leaders, Ueda expressed concern over inflation levels, stating that the current rate of 2% is "already roughly around" the Bank of Japan's target figure.
He was responding to a query about whether price increases nearing the BOJ's target would influence policy decisions. Ueda made these remarks two weeks before the bank's upcoming policy meeting, as market participants and economists anticipate no change in interest rates at that time. The upcoming week will see Japan's latest inflation report, which is projected to show that overall prices increased by 2.1% in September compared to the previous year.
Excluding fresh food, costs rose by 2.1%, and when energy is subtracted, prices climbed by 2.3%. With the current subscription plan, readers are unable to comment on stories. Before posting their first comment, subscribers must create a display name in the Profile section of their subscriber account page. This subscription plan does not permit commenting. For additional information, see the FAQ.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
