BOJ's Ueda says unconventional tools not perfect substitutes for rate cuts, inflation has upside risks

Bank of Japan Governor Kazuo Ueda said unconventional tools have had some positive effects but are not perfect substitutes for rate cuts, and that rising energy prices are beginning to hit consumer prices. He said the economy is in equilibrium with wages growing consistent with 2% inflation, and that underlying inflation will likely stay around 2% with upside risks.

Detected & updated continuously · Source: Nebula