NIIGATA: Bank of Japan Governor Kazuo Ueda said on Saturday he explained to his Group of Seven (G7) counterparts that the central bank was continuing with an ultra-easy monetary policy in order to achieve its 2% inflation target in a sustainable manner.

BOJ debated progress in hitting price goal at Ueda’s debut meeting

“Core consumer inflation is now exceeding 3%, but will slow towards the middle of the current fiscal year,” Ueda told a news conference after the meeting of finance leaders of the G7 group of rich nations.