Bank of Japan (BoJ) Governor Kazuo Ueda highlighted the central bank's ongoing commitment to maintaining a loose monetary policy.

During his talk at the Annual Meetings of the International Monetary Fund, he emphasized the challenges in achieving a sustainable 2% inflation target, noting that inflation expectations in Japan are still anchored near zero, making it difficult to shift them upwards.

Ueda also pointed to labor shortages as a positive factor for wage growth, which could eventually help lift inflation. Despite these developments, he stressed the need for a "cautious and gradual" approach due to economic "uncertainties."