HomeLatestBank of Japan chief defends financial easing as yen retains weakening

Bank of Japan chief defends financial easing as yen retains weakening

The chief of the Bank of Japan on Wednesday defended its coverage of constant with financial easing because the yen briefly fell to a seven-and-a-half month low towards the U.S. dollar in New York the identical day.

“Although the headline rate of inflation is above 3 percent, which is well above the 2 percent inflation target, we think underlying inflation is still a bit lower than 2 percent,” Kazuo Ueda, governor of the Japanese central financial institution, mentioned at an occasion in Sintra, Portugal.

“That’s why we are keeping our policy unchanged at the moment,” he mentioned throughout a session of the ECB Forum on Central Banking, additionally attended by U.S. Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey.
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