BOJ Governor: Core inflation near 2%

The Governor of the Bank of Japan, Kazuo Ueda, mentioned that core inflation is significantly nearing the central bank's target of 2%. He indicated that strong global demand for artificial intelligence is contributing to increased inflationary pressures, along with an improving labor market and rising raw material costs due to the conflict in the Middle East, all of which are pushing inflation upward. The bank is expected to raise interest rates if inflationary pressures persist, especially as they approach the target inflation goal. The next meeting is scheduled for October 30 to assess the situation.

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