The BOJ's 2% price-stability target, introduced in 2013, was reported to have been reached, but Governor Ueda said this did not amount to a declaration of victory. The BOJ had pursued this level by mobilizing large-scale easing measures over an extended period.
The BOJ introduced 2% as its price-stability target in 2013 and pursued it for many years. It was reported this time that underlying inflation had reached 2%. The BOJ had mobilized all available monetary easing measures in pursuit of the target.
At a press conference after the Monetary Policy Meeting held on the 30th, Governor Kazuo Ueda said, “In the sense that we have been aiming for this for a long time, I think it is one milestone.” Although he described it as a milestone in achieving the target, he did not declare victory.