TOKYO : Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will aim to achieve 2 per cent inflation, as measured by the overall consumer price index, on a sustained basis.
In gauging whether inflation will sustainably hit its target, the BOJ focuses on underlying inflation, or the broad trend of price moves that strips away one-off factors such as fuel and volatile fresh food costs.
“When we speak of underyling inflation, we exclude one-off factors from overall CPI moves. But that process at times could be difficult,” Ueda told parliament.
