The Bank of Japan will proceed cautiously with inflation-targeting frameworks, Governor Kazuo Ueda said today, noting that some challenges are 'uniquely difficult' for Japan after years of ultra-easy monetary policy.
The Bank of Japan will proceed cautiously with inflation-targeting frameworks, Governor Kazuo Ueda said today, noting that some challenges are"uniquely difficult" for Japan after years of ultra-easy monetary policy.
"While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us," the Bank of Japan chief added. At the same conference, BOJ Deputy Governor Shinichi Uchida said the end of Japan's battle against persistent deflation is in sight, but acknowledged that anchoring inflation expectations to the 2% target is"a big challenge."
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