From Asheville, North Carolina: Bank of Japan Governor Kazuo Ueda has stated that underlying inflation is nearing the central bank's price target. The target is 2 percent, and according to Ueda, inflation is now much closer to this goal.

Further details about the current state of inflation and the Bank of Japan's targets are available from the source. Ueda's comments were made on Tuesday.

The Bank of Japan is expected to debate a potential rate rise, with Ueda's statement indicating a shift in the bank's outlook on inflation.