BOJ's Ueda says days of 'low for long' inflation may be over | Inquirer Business

BOJ’s Ueda says days of ‘low for long’ inflation may be over

/ 08:35 AM May 31, 2023

TOKYO  -Global central banks may already be facing a new economic environment where inflation will no longer revert to the low levels of the past, Bank of Japan Governor Kazuo Ueda said on Wednesday.

Ueda said there is a view among academics that the current ongoing global inflationary pressure will eventually subside and that a period of “low for long” will resume.

On the other hand, there is also a view that the current period of high inflation will change people’s views on prices, leading to a departure from “low for long,” he said.

“It may be difficult to deny the possibility that we are already in a new normal that is different from the period of ‘low for long’ (inflation),” Ueda said in opening remarks at an annual academic conference hosted by the BOJ.

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TAGS: Bank of Japan, Inflation

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