BOJ Deputy Governor Uchida (内田) read out Governor Ueda's (植田) remarks and indicated that underlying inflation was approaching 2%. He pointed out that attention was needed to the impact of rising oil prices, expanding AI demand and the yen's weakening trend on the economy and prices.
BOJ Deputy Governor Uchida (内田) read out Governor Ueda's (植田) remarks at the National Credit Union Convention in Tokyo. At the meeting, he presented an assessment of current underlying inflation and reiterated the view that it was approaching 2%.
Deputy Governor Uchida (内田) indicated that attention should be paid to deviations in underlying inflation from the 2% price stability target.
He said that continued attention was needed to the effects on Japan's economy and prices of higher oil prices resulting from tensions in the Middle East, expanding AI-related demand and the yen's weakening trend in the foreign-exchange market.
The content discussed at the event is understood to constitute information that may serve as an indicator when the Bank of Japan considers the outlook for future financial conditions and price stability.