> Ueda says will refrain from committing to maintain BOJ price target at 2% as governor

Ueda says will refrain from committing to maintain BOJ price target at 2% as governor

It's just what he needs to say for the job but don't expect any radical moves since the rest of the world is adopting a 2% target approach

Monday, 27/02/2023 | 07:02 GMT-0

There are positive signs emerging on trend inflation
No immediate need to change pledge to meet 2% price target
Not considering altering 2% price target for now
Changing the 2% price target to 1% would strengthen yen in the short-term but weaken it in the long-term

These are all still token remarks from Ueda as he is just trying to appease lawmakers in order for them to approve his credentials for the job. It's pretty much a formality and I would not expect the Japanese central bank to challenge the norm by moving away from a 2% price target during Ueda's upcoming five-year term.