BOJ Governor Ueda Kazuo (植田 和男) acknowledged that the 2% price target had been reached while making clear the policy of continuing rate hikes. He indicated that the BOJ was nearing the “tightening territory” needed to avoid a return to deflation and contain upside risks to prices, and reiterated that decisions would be made at every meeting, including the next meeting in December.
BOJ Governor Ueda Kazuo (植田 和男) acknowledged the possibility that prices could reach the 2% target and indicated that he intended to continue raising interest rates. At the press conference, he emphasized the need to prepare for accelerating inflation and said future monetary policy decisions would be made at each meeting.
The BOJ indicated a policy of shifting the emphasis of monetary policy to tightening territory to contain upside risks to prices and avoid a situation in which the economy would return to deflation.
The BOJ intends to maintain its policy of continuing to raise the policy rate and reiterated its stance of making decisions at every meeting, including the next one.