Bank of Japan Governor Kazuo Ueda indicated on May 25 that the central bank may scale back its monetary easing toward an eventual exit, even when the inflation rate is below its 2 percent target, noting that its "sustainable and stable" rise is important.
Outgoing Bank of Japan Governor Haruhiko Kuroda has learned the hard way that even a decade of unprecedented monetary easing is not enough to attain a 2 percent inflation target that he once thought would be achievable in two years.