BOJ Governor Ueda Says Inflation Nears 2% Target, Signals Scope for Rate Hikes

Bank of Japan Governor Kazuo Ueda told parliament that underlying inflation is quite close to the 2% target, signalling room for further rate increases. He cited higher raw material costs, a tight job market and strong AI demand as price drivers, warning that delaying adjustments could push up long term rates. The BOJ meets on October 30 and markets expect a hold at 1.25%.