BOJ Governor Ueda (植田) said the central bank would discuss rate hikes at every monetary policy meeting, including in September, and explained the policy at a joint press conference with Finance Minister Katayama (片山) after the G20.
Governor Ueda (植田) reiterated that the BOJ would consider rate hikes at each policy meeting, including the next one, while assessing the process of moving toward its 2% price stability target. He said that if the data develop in line with the outlook, a decision at meetings including the September meeting could become an agenda item.
After the G20 Finance Ministers and Central Bank Governors Meeting ended, Governor Ueda (植田) held a joint press conference with Finance Minister Katayama (片山), where he discussed the importance of policy management in light of upward pressure on prices and the useful discussions at his one-on-one meeting with Treasury Secretary Bessent. He also indicated that the BOJ would take into account factors including the impact of exchange rates, the situation in the Middle East and AI demand.
Markets are increasingly pricing in a rate hike at the next meeting, and expectations for a hike at the 17–18 September policy meeting are rising. As the yen continued to weaken and the dollar strengthen, long-term interest rates temporarily rose to nearly 3%, while vigilance spread across related government bond markets.