At the National Credit Cooperative Association conference, Bank of Japan Governor Ueda Kazuo (植田和男) said the BOJ would continue raising the policy rate and appropriately adjust the degree of monetary easing. He reaffirmed the view that the underlying trend in prices should be stabilized at around 2%.
At the National Credit Cooperative Association conference on the 16th, Bank of Japan Governor Ueda Kazuo (植田和男) said the BOJ would continue raising the policy rate and appropriately adjust the degree of monetary easing. Vice Governor Uchida Shinichi (内田真一) read the speech on his behalf while he was attending an international conference.
Governor Ueda reiterated his previous view that, given the risk of the underlying trend in prices rising above the target, it is becoming increasingly important to stabilize the underlying trend in prices at around 2%.
In financial markets, expectations are said to be growing that the BOJ will hold off on a rate hike at its next Monetary Policy Meeting. Tōtan Research estimates the probability of a rate hike at 5% at the October meeting and 77% at the December meeting.
The article reports Governor Ueda’s remarks and market outlook, with readers focusing on the course of upcoming meetings and the outlook for the economy and prices.