Ueda Kazuo: If inflation accelerates as expected towards the 2% target, the Bank of Japan will continue to raise interest rates
Bank of Japan Governor Kazuo Ueda stated on Friday that if potential inflation accelerates as expected towards the 2% target, the Bank of Japan will continue to raise interest rates. However, Ueda told Japanese lawmakers that, given the uncertainty surrounding the impact of U.S. tariffs, the Bank of Japan will carefully review whether economic trends align with its forecasts without pre-setting its stance. It is understood that the Bank of Japan will hold a monetary policy meeting from April 30 to May 1 and will announce economic forecasts. Consumer inflation in Japan rose last month, partly due to a significant increase in rice prices. Persistently high inflation supports the Bank of Japan's position for further interest rate hikes, but U.S. tariff policies cast a shadow over the economic outlook, making the direction of monetary policy more complex
According to Zhitong Finance APP, Bank of Japan Governor Kazuo Ueda stated on Friday that if potential inflation accelerates as expected towards the 2% target, the Bank of Japan will continue to raise interest rates.
However, Ueda told Japanese lawmakers that given the uncertainty surrounding the impact of U.S. tariffs, the Bank of Japan will carefully examine whether economic trends align with its forecasts without pre-setting a stance.
It is understood that the Bank of Japan will hold a monetary policy meeting from April 30 to May 1 and will announce economic forecasts. Consumer inflation in Japan rose last month, partly due to a significant increase in rice prices. Persistently high inflation supports the Bank of Japan's position for further interest rate hikes, but U.S. tariff policies cast a shadow over the economic outlook, making the direction of monetary policy more complex