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On Monday, Bank of Japan Governor Kazuo Ueda said that some challenges are unique to the Bank of Japan and that the Bank of Japan will proceed with the same caution as other central banks that adopt an inflation-targeting framework.
Key quotes:
We have made progress in moving away from zero growth and raising inflation expectations, but now we must re-anchor inflation to the 2% target.
The Bank of Japan will proceed with caution, as do other central banks with an inflation targeting framework.
While many of the challenges we face are similar to other central banks, some are unique to us.
When assessing the economy’s response to interest rate changes, the absence of significant interest rate changes is a considerable headwind.
