Bank of Japan Governor Kazuo Ueda (植田 和男) made clear that the Bank intends to continue raising interest rates even as it achieves its 2% inflation target. The policy is to make decisions at future meetings, including the next one, while maintaining a restrictive policy stance.
Bank of Japan Governor Kazuo Ueda (植田 和男) said that, while acknowledging that inflation had reached the target level, he intended to continue raising interest rates. The focus of policy decisions is shifting from vigilance against a return to deflation toward a restrictive policy stance aimed at containing upside risks to prices.
At a press conference, Governor Ueda (植田 和男) said, “We will make decisions at every meeting, including the next [December] policy meeting,” indicating that monetary policy decisions would continue to be considered at each upcoming meeting.
The Bank of Japan emphasized its stance of continuing to raise interest rates while pointing out that upside risks to prices remained. The view was expressed that monetary policy decisions would continue to require caution and flexibility.