Bank of Japan Deputy Governor Shinichi Uchida stated at a post-meeting press conference that the U.S.-Iran agreement, despite existing uncertainties, represents a positive development.

Uchida emphasized that anchoring inflation around 2% is crucial, adding that policymakers must remain vigilant about upside risks to prices.

He noted that officials need to closely monitor the risk of underlying inflation rates exceeding the 2% target.

Uchida also remarked that the synchronized rise in wages and prices has become a trend, which is a positive factor for the economy.

The Bank of Japan recently raised its benchmark interest rate to its highest level in 31 years and has announced plans to halt the reduction of its bond-buying program.