TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda told the nation’s top economic panel last week that keeping monetary policy too loose for too long could pose risks to achieving the BOJ’s inflation target stably, minutes of the meeting showed on Monday.

The Council on Economic and Fiscal Policy, which sets Japan’s long-term fiscal blueprint and policy priorities, met on November 12 in its first gathering since Prime Minister Sanae Takaichi took office.

Asked by a private-sector member about the BOJ’s rationale for raising interest rates when underlying inflation lags its 2% target, Ueda said achieving the target sustainably over the longer term meant not only pushing inflation up from below, but also avoiding an excessive overshoot, according to the minutes.

“From this perspective, ke

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