The Bank of Japan (BOJ) will proceed cautiously with inflation-targeting frameworks, Governor Kazuo Ueda said on Monday, noting that some challenges are “uniquely difficult” for Japan after years of ultra-easy monetary policy. In an opening speech to a BOJ-hosted conference in Tokyo on central banking, Ueda said Japan has “made progress in moving away from zero and lifting inflation expectations.” To achieve 2% inflation in a sustainable and stable manner, the BOJ “will proceed cautiously, as do other central banks with inflation-targeting frameworks,” he said. “While many of the challenges we face are similar to ... (full story)