TOKYO, June 20 (Reuters) – Bank of Japan Governor Kazuo Ueda stated on Friday that the central bank will proceed with raising interest rates if economic conditions continue to improve, keeping Japan on course to sustainably achieve its 2% inflation target. “Underlying inflation may experience stagnation due to slower economic growth, but is expected to pick up as labor shortages intensify, driving medium- to long-term inflation expectations,” Ueda explained during a speech. The central bank remains focused on ensuring stable economic growth while managing inflationary pressures. Sign up here for more updates. Reporting by Leika Kihara; Editing by Jacqueline Wong
— new from Reuters
