Bank of Japan Governor Kazuo Ueda spoke about the monetary policy situation at the Bank of Japan during a meeting of the Bank of Japan branch managers held on Wednesday morning. The main comments Ueda made during the meeting were as follows:
The Bank of Japan will raise interest rates and adjust the degree of support for monetary policy if signs of improvement in the economy and price conditions continue to trend towards achieving the inflation target. The Bank of Japan will discuss economic conditions in the monetary policy meeting scheduled for next week and will make its decision on monetary policy after discussions and careful consideration of the situation. The Bank of Japan is keen to monitor developments in the U.S. economy. The momentum heading into spring wage negotiations is critical, and the results of the negotiations will be decisive. There was a lot of positive talk about wage increases in today’s meeting, and initial signs are encouraging. The timing of monetary policy adjustment depends on future economic, price, and financial conditions.
