The post Underlying inflation accelerating toward 2% moderately appeared on BitcoinEthereumNews.com. Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the Japanese central bank will strive to create strong economy so that tax revenues rise without tax hikes. Key quotes BoJ striving to achieve moderate inflation backed by wage growth by helping improve economy. BoJ aims to achieve sustained economic growth benefiting public. Consumption resilient due to improvement in household income, job conditions. Underlying inflation accelerating toward 2% moderately. Hard to break down inflation to driven by cost-push factors and driven by demand. Recent food price increases likely caused by elevated raw material expenses, with other goods’ prices also increasing as companies pass on higher wages. Job market tightens, wages rising, creating moderate cycle of rising wages and inflation. Market reaction   As of writing, the USD/JPY pair is up 0.01% on the day at 154.76. Bank of Japan FAQs The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an… The post Underlying inflation accelerating toward 2% moderately appeared on BitcoinEthereumNews.com. Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the Japanese central bank will strive to create strong economy so that tax revenues rise without tax hikes. Key quotes BoJ striving to achieve moderate inflation backed by wage growth by helping improve economy. BoJ aims to achieve sustained economic growth benefiting public. Consumption resilient due to improvement in household income, job conditions. Underlying inflation accelerating toward 2% moderately. Hard to break down inflation to driven by cost-push factors and driven by demand. Recent food price increases likely caused by elevated raw material expenses, with other goods’ prices also increasing as companies pass on higher wages. Job market tightens, wages rising, creating moderate cycle of rising wages and inflation. Market reaction   As of writing, the USD/JPY pair is up 0.01% on the day at 154.76. Bank of Japan FAQs The Bank of Japan (BoJ) is the Japanese central bank, which sets monetary policy in the country. Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. The Bank of Japan embarked in an ultra-loose monetary policy in 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing (QQE), or printing notes to buy assets such as government or corporate bonds to provide liquidity. In 2016, the bank doubled down on its strategy and further loosened policy by first introducing negative interest rates and then directly controlling the yield of its 10-year government bonds. In March 2024, the BoJ lifted interest rates, effectively retreating from the ultra-loose monetary policy stance. The Bank’s massive stimulus caused the Yen to depreciate against its main currency peers. This process exacerbated in 2022 and 2023 due to an…