During his speech on Thursday morning, Bank of Japan Governor Kazuo Ueda stated that the bank will raise interest rates if consumer price inflation data continues to improve, alongside an improvement in economic conditions.
In addition, Ueda's statements today included the following:
The Bank of Japan will continue to raise the policy interest rate this year if economic conditions and prices keep improving. The approach to monetary policy adjustments will depend on economic conditions, prices, and the prevailing financial situation at that time. Expectations of the new U.S. administration's policies and the outcomes of local wage negotiations are critical factors in the Bank of Japan's monetary policy decisions. The Bank of Japan will discuss whether to raise interest rates in next week's meeting. Ueda's remarks come after a news report from Bloomberg today indicated that the Bank of Japan may raise interest rates next week, according to sources familiar with the matter.
