Japan’s inflation may exceed 1% but stay below BOJ goal, says central bank official

TOKYO – Japan’s consumer inflation may exceed 1% but will remain distant from the central bank’s 2% target, a senior Bank of Japan official said on Friday.

“Japan’s economy has yet to fully recover from the coronavirus pandemic’s damage,” BOJ Executive Director Shinichi Uchida told parliament. “We’re not in a situation where we can tweak our current easy monetary policy.”

(Reporting by Leika Kihara; Editing by Sam Holmes)