Bank of Japan cautions on rising inflation before October meeting

Bank of Japan Governor Kazuo Ueda warns of the risks associated with the core inflation rate surpassing the 2% target, emphasizing the importance of maintaining inflation around this threshold to prevent economic harm. This comes ahead of the October monetary policy meeting, during which the bank is expected to release new forecasts for growth and inflation, with the likelihood of continuing interest rate hikes to counter inflationary pressures, especially after raising rates last month to their highest level in 31 years.

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