BOJ to cut monetary stimulus if inflation trend nears 2%: Ueda

Bank of Japan chief Kazuo Ueda said Tuesday the central bank will further reduce monetary stimulus if the country's basic inflation rate nears 2 percent as expected, keeping market expectations alive for an additional interest rate hike.Ueda told a parliamentary session that the BOJ will examine upcoming data to confirm the strength of wage growth in line with the outcomes of labor-management negotiations this spring, and whether services prices will rise to achieve stable inflation.He also said the BOJ's monetary policy is not designed to "control" foreign exchange rates, yet cautioned tha…READ FULL ARTICLE