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by Japan’s economy is slowly moving towards its price stability goal, according to Bank of Japan (BoJ) Governor Kazuo Ueda. However, he pointed out that the chance of reaching this target isn’t yet high enough. This is due to uncertainties in economic activities and prices, both domestically and internationally. Ueda mentioned that the bank has been carefully continuing its monetary easing policy, weighing its benefits and drawbacks. He explained that the main reason for the different approaches of other central banks compared to the Bank of Japan is the varying states of prices and wages.
Kazuo Ueda added that if the positive interaction between wages and prices strengthens and the likelihood of sustainably achieving the 2% price stability target increases, the bank might think about altering its monetary policy.
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