BOJ’s Ueda Signals Sticking With Stimulus Ahead of First Meeting

Bank of Japan Governor Kazuo Ueda indicated he saw little need to alter its monetary stimulus ahead of his first policy meeting as the bank’s chief, forecasting underlying inflation to weaken.

“Our stance is to continue with monetary stimulus along with our price outlook,” Ueda said in response to questions in parliament Monday. The bank concludes its two-day meeting on Friday, when it will also publish its quarterly economic projections. “Inflation is expected to cool to below 2% in the second half of this fiscal year” ending in March 2024, he added.