BOJ’s Ueda Says Growth and Inflation Outlook Largely Unchanged

Bank of Japan Governor Kazuo Ueda said on 31 July that the central bank sees no major change in its baseline economic scenario, despite signs that the pace of growth is slowing and underlying inflation is stalling. Ueda told reporters the BOJ’s projections for economic expansion and the price outlook through 2026 and 2027 remain broadly intact. The central bank continues to expect growth to moderate and core inflation to lose momentum, but it does not currently foresee conditions that would prompt a revision of its medium-term forecasts.