In his address to the annual trust association’s meeting, BoJ Governor Kazuo Ueda highlighted the central bank’s commitment to maintaining accommodative monetary policy. According to Ueda, BoJ “will patiently maintain an easy monetary policy to stably and sustainably achieve the 2% price target accompanied by wage growth.”
Governor Ueda provided a cautiously optimistic outlook for Japan’s economy, describing it as “picking up” and likely to “recover moderately.” In terms of inflation, he reiterated the expectation of slowdown in Japan’s consumer inflation towards the middle of the current fiscal year.
Ueda also offered reassurances about the stability of Japan’s financial system, noting it was “stable as a whole.” Despite recent failures of several US banks, Ueda claimed the impact on Japan’s financial system was limited.
