{
  "id": 18538861,
  "title": "BOJ chief Ueda sees 'some upside risks' to inflation",
  "url": "https://urgent.news/2026/11/06/boj-chief-ueda-sees-some-upside-risks-to-inflation-18538861",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T17:25:32.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/business/boj-chief-ueda-sees-some-upside-risks-inflation-6532056"
  },
  "original_language": "en",
  "account": "Bank of Japan Governor Kazuo Ueda indicated on Friday that the central bank anticipates underlying inflation to remain close to its 2 percent target, though acknowledging there are potential upward risks. Rising costs for energy-related goods are starting to influence consumer inflation, with growth expected to increase further in the coming year, Ueda stated at an International Monetary Fund seminar. The BOJ's 2 percent inflation goal has yet to become ingrained in Japanese society, Ueda added, emphasizing that the central bank's focus now is to anchor underlying inflation around its target.\n\nUeda also noted that the BOJ is closely examining the actions of other central banks, as they can impact asset prices, including foreign exchange rates and interest rates. He highlighted that unconventional monetary policy tools have had positive effects in the past but are not perfect substitutes for lowering interest rates from positive territory.\n\nShould Japan face a significant economic shock, Ueda suggested the BOJ might have to deploy such tools again, urging the central bank to consider minimizing negative effects, including potential impacts on market functioning. When discussing Federal Reserve Chairman Kevin Warsh's comments on excessive communication, Ueda stressed the need for a balanced approach between policy communication and preventing moral hazard in the market. In Japan's case, the central bank has been using underlying inflation as a key indicator for guiding policy.\n\nAI advancements have presented a positive demand shock for the Japanese economy, according to Ueda, though supply side factors will also need to be considered. Unlike some other nations, Japan could potentially benefit from AI replacing labor due to its significant labor shortages. IMF Managing Director Kristalina Georgieva cautioned that concerns over dependence on AI investments and high valuations could impact global markets, particularly as they assess their inflation-fighting strategies. Ueda also expressed concern about cyber risks to financial stability, pointing out that some small banks and firms have fallen short in protecting against such risks.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}