Bank of Japan Governor Ueda:
- While many of my G7 colleagues looked relieved by progress made in fight against inflation, they also acknowledged new challenges such as heightened trade policy uncertainty and dealing with more frequent supply side shocks
- In Japan we are still grappling with longstanding challenge of achieving our 2% inflation target in sustainable manner
- While we are now closer to our inflation target than any time during the last few decades, we are not quite there
- Inflation in Japan has picked up again, driven primarily by increases in food prices, most notably rice prices
- Japan’s real policy rate remains deeply negative
Ueda is speaking here:
This article was written by Eamonn Sheridan at www.forexlive.com.
