At the National Securities Convention in Tokyo, BOJ Governor Ueda Kazuo (植田和男) reiterated his stance of continuing to raise the policy rate and adjust the degree of monetary easing in response to economic, price and financial conditions. Following the decision at the September meeting to raise the rate to around 1.25%, market attention is focusing on the pace of future rate hikes.
BOJ Governor Ueda Kazuo (植田和男) gave remarks at the National Securities Convention in Tokyo and reiterated the policy of continuing to raise the policy rate and adjust the degree of monetary easing in response to economic, price and financial conditions.
At its September Monetary Policy Meeting, the BOJ decided to raise the policy rate to around 1.25%, 3 months after the previous rate hike. The market is watching to see whether the pace of future rate hikes will accelerate.
Regarding current economic conditions, Governor Ueda said that, in line with the central outlook in the Outlook for Economic Activity and Prices, the underlying rate of consumer price inflation is approaching the 2% target.
Regarding the pace of rate hikes, he explained that the BOJ would consider it while assessing the likelihood of the central outlook being realized and the associated risks.