BOJ holds course due to inflation: Ueda‘DISAPPOINTMENT’: he BOJ governor said that last month’s economic data for China was ‘on the weak side,’ but the US economy provided ‘some offset’ to JapanBloombergBank of Japan (BOJ) Governor Kazuo Ueda said that price growth remains slower than the central bank’s goal, explaining why officials are continuing with their current monetary-policy strategy. “We think underlying inflation is still a bit below our target of 2 percent,” Ueda said on Saturday during a panel discussion at the US Federal Reserve’s annual symposium in Jackson Hole, Wyoming. Powell said in a Friday speech in Wyoming that the US central bank is ready to tighten again if needed to tame inflation. Getting inflation down to 2 percent is expected to require softer labor-market conditions and a period of below-trend economic growth, he said. The BOJ loosened a grip on its yield curve control program last month in Ueda’s first surprise move.

Source: Taipei Times August 27, 2023 17:38 UTC