At a press conference, Bank of Japan Governor Ueda Kazuo (植田 和男) expressed the view that "the situation has changed" and said that the pace of additional rate hikes would be considered and determined while reviewing the likelihood of the economic and inflation outlook being realized and the associated risks.
At a press conference following the Bank of Japan's monetary policy meeting, Governor Ueda Kazuo (植田 和男) clearly expressed the view that "the situation has changed." His remarks suggested how the economic and inflation outlook may be affected in the current situation.
Regarding the pace of future rate hikes, he said it would be considered while reviewing the likelihood of the economic and inflation outlook being realized and the associated risks. He did not indicate any specific timing or numerical pace.
The remarks suggest the possibility of a shift in the Bank of Japan's monetary policy management. Going forward, assessments of economic conditions and risks will be given weight as factors in monetary policy decisions.