BOJ Governor Ueda Kazuo (植田 和男) indicated that the Bank plans to adjust the degree of monetary accommodation going forward against a backdrop of higher oil prices, yen depreciation and expanding demand related to AI. The underlying rate of consumer price inflation is close to 2%, making the future course of policy a focus.
BOJ Governor Ueda Kazuo (植田 和男) indicated that he intends to continue adjusting the degree of monetary accommodation in line with economic and price conditions.
In addition to higher oil prices and yen depreciation, expanding demand related to AI is contributing to continued high year-on-year growth in domestic corporate prices.
He said the underlying rate of consumer price inflation is approaching 2% and indicated that, given the current accommodative financial conditions, the Bank will continue to assess the course of policy rates.
The remarks reaffirmed the direction of gradually adjusting the degree of monetary accommodation in response to conditions.