While speaking in the Japanese parliament on Tuesday, new Bank of Japan (BoJ) Governor Kazuo Ueda said, “trend inflation remains below 2% but gradually accelerating, which is partly due to the effect of monetary easing.”

Additional quotes

It takes very long for impact of monetary policy steps to appear on economy, prices.

Monetary policy steps taken now will affect economy, prices half-year, 1 year, 1.5 years ahead.

Tightening monetary policy now could push down inflation in future, which is already likely to slow on dissipating effect of import costs.