Bank of Japan Governor Ueda:

  • Don't have any preset idea on timing, pace of future rate hike
  • If trend inflation accelerates in line with our forecast, we will adjust degree of monetary support through interest rate hike
  • If our price forecast changes, that will also be a reason to change policy
  • Future monetary policy guidance will depend on economy, price, market development at the time
  • Didn't say anything new on BOJ policy last week in Washington
  • Tredn inflation is still somewhat below 2%, so need to maintain accommodative monetary conditions for the time being
  • If geopolitical risks, weak domestic demand cause disruptions in markets, BOJ will respond through flexible, nimble liquidity provisions

Nothing in that lot above is of any surprise. Ueda keeping his options open.

BoJ Ueda
BoJ Ueda