TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba said on Monday the central bank was close to achieving its 2% inflation target.
“The Bank of Japan is taking various steps to achieve stable prices,” Ishiba told parliament, when asked by an opposition lawmaker whether Japan’s economy was in an ideal state in which inflation was rising in tandem with solid consumption.
“My understanding is that the BOJ is on the cusp of achieving its price target,” Ishiba said.
After exiting a decade-long, massive stimulus last year, the BOJ raised short-term interest rates to 0.5% from 0.25% in January and has signalled its readiness to hike further if Japan makes progress in durably hiting its 2% inflation target.
(Reporting by Rie Ishiguro, Writing by Leika Kihara; Editing by Jacqueline Wong)
