© Reuters. FILE PHOTO: Bank of Japan Governor Kazuo Ueda speaks at a group interview with media in Tokyo, Japan, May 25, 2023. REUTERS/Kim Kyung-Hoon
TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will patiently maintain its ultra-loose monetary as there is some distance to sustainably achieve its 2% inflation target.
“We expect inflation to quite clearly slow below 2%” toward the middle of the current fiscal year, Ueda told parliament.
“Inflation is likely to rebound thereafter … though there is high uncertainty” on the outlook, he added.