BOJ Governor Ueda Kazuo (植田和男) said the central bank will consider an additional rate hike at its September monetary policy meeting. He indicated that discussions, including at the next meeting, will continue in light of his meeting with the U.S. Treasury secretary while taking into account upside risks to prices.
BOJ Governor Ueda Kazuo (植田和男) said on 1 September that the central bank intends to consider an additional rate hike at its September monetary policy meeting. He said he wants to advance discussions at every meeting, including the next one, and will conduct policy while closely monitoring the impact of rate hikes to date and taking into account upside risks to prices.
On the same day, Ueda Kazuo (植田和男) disclosed that he had met with U.S. Treasury Secretary Bessent on 30 August and said they had held productive discussions on a range of topics.
The yield on the newly issued 10-year government bond, a benchmark for long-term interest rates, briefly reached the 3% range on 1 September, its highest level in around 30 years. Ueda Kazuo (植田和男) said the yield was moving due to a range of factors and that he would monitor it closely.
The BOJ decided in June to raise its policy rate to around 1.0% and chose to leave it unchanged at its July meeting.