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The Governor of the Bank of Japan, Haruhiko Kuroda, emphasized a wait-and-see approach and stated that they will wait for more data before deciding on the next steps in monetary policy. He indicated that there is no rush to raise borrowing costs. Speaking at the ECB Forum in Sintra, Portugal, he said, "We need more inflation data to make judgments." He mentioned that the central bank is monitoring the strength of core inflation, the impact of US tariffs, and food inflation, which is expected to gradually ease. Kuroda also mentioned that he may not be able to achieve the goal of reducing the balance sheet before the end of his term.