BOJ’s Ueda Says Cannot Tolerate Core Inflation Rising Further Above 2%

TREE NEWS update: Bank of Japan Governor Kazuo Ueda said Friday that underlying inflation is already around 2% and that a further rise cannot be tolerated. Asked whether prices nearing the BOJ’s target would affect policy operations, Ueda said the recent policy phase has shifted and keeping inflation stably around 2% is becoming a key goal. He said discussions with international counterparts yielded little that clearly contradicted the BOJ’s current view, and that he will discuss with other policy board members at the October meeting whether to adjust the current wording on underlying inflation approaching 2%.