TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will patiently maintain its ultra-loose monetary as there is some distance to sustainably achieve its 2% inflation target.
“We expect inflation to quite clearly slow below 2%” toward the middle of the current fiscal year, Ueda told parliament.
“Inflation is likely to rebound thereafter … though there is high uncertainty” on the outlook, he added.
(Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Muralikumar Anantharaman)
