The BOJ Governor said they will wait and watch for a while before deciding whether to raise interest rates. They are waiting to see if prices are going up or not, as well as how the global economy is doing.

### Eric:
Bank of Japan Governor, Kazuo Ueda, has taken a cautious stance towards interest rates. In a recent news conference, Ueda mentioned that the Bank of Japan (BOJ) is closely monitoring the financial markets and global economic conditions before deciding to raise interest rates. This implies that the BOJ is not in a rush to do so.

Ueda emphasized the importance of analyzing the October service-price data, which will be available in November. This data will help the BOJ determine if the underlying inflation is moving towards its 2% target.

Ueda indicated that the BOJ will wait until at least December before deciding on any rate hike. The next policy meeting is scheduled for Oct 30-31, during which the growth and inflation forecasts will also be reviewed.

Ueda reiterated that the BOJ would raise rates if underlying inflation accelerates towards the 2% target. However, he warned of risks such as volatile financial markets and uncertainty about the US economy's ability to achieve a soft landing. He noted that the recent stabilization of the yen has reduced the risk of inflation overshooting due to rising import prices. Ueda stressed the importance of monitoring market developments and overseas economic conditions in setting monetary policy.

Ueda's remarks reflect a shift in the BOJ's focus from inflationary risks to concerns about slowing global growth and the impact of yen fluctuations on Japan's export-driven economy. The comments were in line with predictions from a Reuters poll, where economists anticipated another rate hike by the end of the year. Read from source...

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Article's Length: 1016

Article's Creation Date: September 24, 2024

Article's Creation Time: 05:46:00

Article's Edit Time: 07:47:41

Article's Edit Date: September 24, 2024

Article's Edited Time: 07:47:41

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BOJ's Ueda: Bank Cautious On Hikes, Awaits Key Economic Data

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Kazuo Ueda, Governor of the Bank of Japan, has indicated that the central bank is not in a rush to raise interest rates further. He mentioned that the BOJ would closely monitor financial markets and global economic conditions before making any decisions. The next policy meeting is scheduled for Oct. 30-31, where a quarterly review of growth and inflation forecasts will also take place.

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