At its Monetary Policy Meeting, the BOJ announced that underlying inflation had reached its 2% target. While leaving the policy rate unchanged, it indicated a policy of accelerating ETF sales from January next year.
At its Monetary Policy Meeting held on 30 October 2026, the BOJ stated that underlying inflation, excluding temporary factors, had reached its 2% target. Accordingly, it decided to leave the current policy rate unchanged at approximately 1.25%. It also decided to accelerate the sales of ETFs purchased in large quantities as part of its long-term monetary easing framework, starting in January next year.
At a press conference, BOJ Governor Kazuo Ueda (植田 和男) said that current underlying inflation was at a level broadly consistent with the target, and indicated a shift from the previous policy objective of “raising it to 2%” to prioritizing stability going forward. All 9 Policy Board members who attended the meeting were reportedly in agreement, underscoring the shift away from the response to deflation.
Further comments on future price trends were apparently made, but the article does not provide specific forecast figures or timing. Attention is expected to remain focused on progress toward scaling back monetary easing, including the adjustment to the pace of ETF sales.