BoJ’s Ueda says underlying inflation still below target

WASHINGTON: Underlying inflation in Japan remains “a bit below” the Bank of Japan’s (BoJ) 2% target, governor Kazuo Ueda said at a Federal Reserve research symposium, and as a result the bank will maintain the current approach to monetary policy.

“We think that underlying inflation is still a bit below our target,” Ueda said. “This is why we are sticking with our current monetary easing framework.”