BOJ chief signals no rush to raise rates further
OSAKA - The Bank of Japan can afford to spend time watching developments in financial markets and overseas economies as it sets monetary policy, Governor Kazuo Ueda said on Tuesday, suggesting that the central bank was in no rush to raise interest rates further.
"While there are some elements we can estimate in advance, we need to look at actual data to confirm," he said, suggesting the BOJ will wait at least until December to hike rates again. But he warned of risks surrounding the outlook, such as volatile financial markets and uncertainty on whether the US economy can achieve a soft landing.
"We need to scrutinise market moves and overseas economic developments behind them in setting monetary policy. We can afford to spend time doing this," he said. Ueda stressed that domestic economic conditions were moving in line with the BOJ's projection with rising wages underpinning consumption and helping push up service-sector prices.
The BOJ ended negative interest rates in March and hiked short-term rates to 0.25% in July, in a landmark shift away from a decade-long stimulus programme aimed at firing up inflation and economic growth.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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