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BOJ aims to achieve 2% inflation as measured by overall CPI, governor Ueda says
Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will aim to achieve 2% inflation, as measured by the overall consumer price index, on a sustained basis. In gauging whether inflation will sustainably hit its target, the BOJ focuses on underlying inflation, or the broad trend of price moves that strips away one-off factors such as fuel and volatile fresh food costs. “When we speak of underyling inflation, we exclude one-off factors from overall CPI moves. But that process at times could be difficult,” Ueda told parliament. The BOJ introduced a 2% inflation target in 2012, which served as a basis ... (full story)