Bank of Japan Gov. Kazuo Ueda said price growth remains slower than the central bank¡¯s goal, explaining why officials are continuing with their current monetary-policy strategy.
¡°We think underlying inflation is still a bit below our target of 2%,¡± Ueda said Saturday during a panel discussion at the Federal Reserve¡¯s annual symposium in Jackson Hole, Wyoming. ¡°This is why we are sticking with our current monetary easing framework.¡±
Annual inflation, as measured by consumer prices excluding fresh food, registered 3.1% in July and the rate ¡°is expected to decline toward the end of the year,¡± Ueda said.
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