BOJ Governor Ueda said that the underlying rate of price increases had not yet reached a level at which 2% could be achieved sustainably and stably. After the policy meeting, the BOJ decided by a majority vote to leave the policy rate unchanged and unanimously indicated that it would accelerate the pace of ETF sales.
At a press conference following the Monetary Policy Meeting on the 30th, Bank of Japan Governor Ueda Kazuo (植田 和男) said that the underlying rate of price increases had not yet reached a level at which 2% could become entrenched. He indicated that monetary policy would be adjusted going forward to entrench 2%.
At this meeting, the BOJ judged that the underlying rate of price increases was at a level broadly consistent with the 2% price stability target, and this judgment was expressed with the unanimous agreement of all 9 Policy Board members.
The BOJ indicated that it would consider the timing and pace of future rate hikes while assessing the likelihood of its central economic and price outlook being realized and the associated risks.
At this meeting, the BOJ decided by a majority vote to leave the policy rate unchanged at approximately 1.25%, and unanimously decided to accelerate the annual pace of ETF sales purchased as part of its monetary easing measures.