BOJ Likely to Judge Underlying Inflation Reached 2 Pct
Tokyo, Oct. 23 (Jiji Press)--The Bank of Japan is highly likely to conclude at its next policymaking meeting from Thursday that the rate of the country's underlying inflation, excluding temporary factors, has reached the BOJ's 2 pct target. The BOJ set the target in January 2013 and has made efforts to attain it with massive monetary easing. The central bank will aim to stabilize the inflat...
Tokyo, Oct. 23 - The Bank of Japan (BOJ) is almost certain to declare at its upcoming meeting, commencing on Thursday, that Japan's underlying inflation rate, which excludes short-term influences, has reached the bank's 2% goal, according to Jiji Press. The BOJ established this objective in January 2013 and has employed extensive monetary easing measures to achieve it.
The central bank aims to maintain inflation at this rate post the target's attainment. During the two-day Policy Board meeting, the BOJ is anticipated to maintain its policy interest rate steady. BOJ Governor Kazuo Ueda has expressed confidence that the underlying inflation rate is nearing the 2% threshold. This conclusion is supported by proactive corporate actions to incorporate increased material and labor costs into their product and service pricing structures, along with escalating demand driven by artificial intelligence advancements.
The BOJ forecasts that the 2% target will be achieved during the latter half of fiscal 2026 or fiscal 2027.
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