Bank of Japan Confirms Inflation Target Achieved After More Than 13 Years
Summary
The Bank of Japan says Japan’s inflation has finally reached its 2% price stability target after more than 13 years. The central bank kept its key interest rate unchanged at 1.25% but signaled inflation is now broadly consistent with its goal.
Key Points
- The Bank of Japan confirmed that Japan’s underlying inflation trend has reached its 2% price stability target for the first time in more than 13 years.
- The central bank kept its key interest rate at 1.25% in an 8–1 vote.
- Japan’s core inflation rose to 2.1% in September from 1.7% in August, strengthening expectations of a possible rate hike later this year.
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