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Achievement of the 2 percent price stability target and Japan's economy

· Kazuo Ueda, Governor of the Bank of Japan (Japan)

Summary written by Dark Majestic in its own words · topics: inflation and price stability, labour markets and jobs

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· Kazuo Ueda Wiki · Bank of Japan WikiAchievement of the 2 percent price stability target and Japan's economy

ContextSpeech to the councillors of Keidanren, the Japan Business Federation, in Tokyo; the Bank of Japan pursues price stability and is moving out of years of very low rates.

Why it mattersJapan's governor signals that reaching the 2% target allows further normalisation of policy.

Problems raised
  1. Japan long struggled to reach 2% inflation.
  2. Private consumption was weak.
  3. Measures may have side effects on markets.
Solutions proposed
  1. Build on wage hikes from spring negotiations.
  2. Watch risks at home and abroad.
  3. Adjust policy as the target is reached.
Read full speech on bis.org ↗

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