The Bank of Japan said the inflation rate had reached 2%, while Governor Ueda Kazuo (植田和男) said it is expected to remain around 2% going forward. The bank decided to accelerate ETF sales and is expected to maintain its policy rate at the current level.
The Bank of Japan said the inflation rate had reached its 2% target. At a press conference, Governor Ueda Kazuo (植田和男) said the inflation rate, excluding the effects of temporary factors, had reached a level “broadly consistent” with the target and is expected to remain around 2% going forward.
This achievement is regarded as the realization, after approximately 14 years, of the long-term goal Japan had set in seeking to overcome deflation. The Bank of Japan also presented its outlook for future price trends.
The Bank of Japan also decided to accelerate sales of exchange-traded funds (ETFs). This could affect ETF trading in financial markets.
The policy rate is expected to remain unchanged at its current level of around 1.25%, according to reports.