BOJ Chief Says Inflation Nears Target Amid Strong Demand
Bank of Japan Governor Kazuo Ueda noted that underlying inflation is nearing the two percent target. Strong AI demand and tight labor markets continue to drive price pressures ahead of the upcoming policy meeting.
Bank of Japan Governor Kazuo Ueda said underlying inflation is quite close to the 2% target, driven by strong global AI demand and a tight job market. The remarks come ahead of the central bank's policy meeting on October 30, where officials will release fresh quarterly forecasts. Markets are scrutinizing the path for interest rates after the BOJ raised borrowing costs to 1.25% in September.
