Bank of Japan Governor Ueda says that he told the G7 that the BOJ will carry on with its monetary easing until the inflation target is reached stably and sustainably
- said Japanese CPI is currently around 3% but that its likely to fall ahead
- Bank of Japan should pay more attention to the risk of failing to achieve the 2% inflation target with a premature end to easing, rather than risk falling behind the curve on inflation
Ueda doesn't sound like a guy in a rush to trim back on easy policy.
Ueda the latest in a long, long line of central bankers saying inflation is transitory - will he get caught out like so many of them?