BOJ's Ueda says underlying inflation is now quite close to 2%

Bank of Japan Governor Kazuo Ueda says underlying Japanese inflation is now "quite close to 2%" and that policymakers need to pay greater attention to upside price risks.
Ueda also described his discussion with Fed Chair Kevin Warsh as productive but declined to disclose what the two central-bank leaders discussed.
The inflation comments strengthen the case for continued BOJ policy normalization if price pressures remain persistent, potentially increasing expectations for tighter Japanese monetary policy.
For $JPY, a more hawkish BOJ outlook can provide support through higher domestic rate expectations.