At a press conference after the meeting in Bangkok, Bank of Japan Governor Ueda Kazuo (植田 和男) said that the underlying inflation rate was approaching 2% quite closely, while stating that further increases could not be tolerated and suggesting that rate hikes would continue.
At a press conference after the Bank of Japan governors’ meeting on the 16th, Bank of Japan Governor Ueda Kazuo (植田 和男) reiterated his recognition that the underlying inflation rate was approaching 2% quite closely. He then emphasized his view that increases in prices beyond the current level could not be tolerated.
Following the Bank of Japan’s decision to raise the policy rate to 1.25% at its September Monetary Policy Meeting, it indicated that it would consider the timing and pace of future rate hikes while assessing developments in the Middle East, AI-related demand and foreign exchange markets.
He indicated that, in future discussions, it would be important to place greater emphasis on price stability at around 2%, making clear his stance of continuing to raise interest rates.