BOJ Governor Ueda Kazuo (植田和男) indicated that he intends to consider raising interest rates at the next Monetary Policy Meeting and disclosed plans to set the policy rate, the central focus, at 1.25%. He said the U.S. call for monetary easing would also be included among the factors considered.
BOJ Governor Ueda Kazuo (植田和男) said he plans to consider raising the policy rate at the next Monetary Policy Meeting, scheduled for the 17th and 18th. At a press conference, he said, "We want to discuss this at every meeting, including the next one," indicating that discussions will continue at each meeting.
He indicated a policy of setting the target policy rate, the central focus of the increase, at 1.25%. Although he did not specify the size of the increase, the BOJ is expected to proceed with consideration of the policy.
Regarding the U.S. call for monetary easing, he indicated an intention to include it among the factors considered in determining Japan's monetary policy, suggesting that overseas factors may also be taken into account in future discussions.
The remarks suggest that the BOJ will consider raising the interest-rate level while assessing its price stability objective and economic developments, and attention is now focused on the future conduct of monetary policy.