BOJ Must Support Economy with Easy Policy, Says Governor Ueda

REUTERS/Kim Kyung-Hoon/File Photo
Bank of Japan Governor Kazuo Ueda reacts during a press conference after a policy meeting at BOJ headquarters, in Tokyo, Japan March 19, 2024.

TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Wednesday it was important to support the economy with accommodative monetary policy for the time being.

“Japan’s medium- to long-term inflation expectations, and trend inflation, are still in the process of heading towards 2%,” Ueda told parliament.

The likelihood of durably achieving the BOJ’s 2% inflation target was high as growth in average real wages is likely to turn positive in near future, he added.