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Central Banks

BOJ’s Ueda Says Inflation Is Still Below Target, Weakening Yen

Kazuo Ueda Photographer: Toru Hanai/Bloomberg

Takeaways by Bloomberg AI

Bank of Japan Governor Kazuo Ueda said the central bank is still some distance from its inflation goal in comments that helped accelerate a weakening of the yen.

While Ueda also talked down the possibility of any rate cut to boost the economy, the mention of a possible need to offer support for the economy likely gave the impression that the bank’s next move to raise rates will be more distant.