BoJ's Ueda Keeps JGB Taper Plan Unchanged, Emphasizes Anchoring 2% Inflation

Bank of Japan Governor Kazuo Ueda confirmed the baseline JGB purchase taper plan remains unchanged without pre-set triggers for emergency intervention, ahead of the October 30 rate meeting. Speaking on domestic conditions, Ueda stressed the growing importance of anchoring underlying inflation at 2%, noting that AI demand, a tight labour market, and Middle East energy costs are lifting prices. Ueda also argued that timely rate increases protect the debt market from inflation overshoots. The BoJ's benchmark rate stands at 1.25%, with the yen edging modestly higher following his remarks.