BoJ’s Ueda: Cannot say with conviction that inflation will hit 2% sustainably

Bank of Japan (BoJ) Governor Kazuo Ueda continued to dismiss expectations of Japan sustainably achieving the 2% price target.

Additional quotes

Japan economy is recovering moderately.

The output gap has narrowed to near zero.

Some positive signs seen in wages and inflation.

But there is still high uncertainty on whether this cycle can strengthen further.