Bank of Japan Governor: "Japan's Inflation at Highest Level in 30 Years"... Maintains Rate Hike Stance

Uk Jin

Summary

Kazuo Ueda, Governor of the Bank of Japan, emphasized that Japan's inflation rate is at the highest level in 30 years.
He stated that if the current economic growth and inflation rate forecasts are realized, they will continue to raise interest rates and adjust the degree of monetary easing.
The next monetary policy meeting of the Bank of Japan will be held from the 16th to the 17th of next month.

Kazuo Ueda, Governor of the Bank of Japan, emphasized on the 27th that Japan's inflation rate is "between 1.5 and 2.0%" and is at the highest level in 30 years.

According to Nihon Keizai Shimbun (Nikkei) and Kyodo News, Governor Ueda stated at an event hosted by the Bank of Japan in Tokyo, attended by domestic and international economists and central bank officials, that Japan's consumer prices are rising again due to the increase in food prices such as rice.

He also left open the possibility of a rate hike. Governor Ueda maintained his stance on continuing to raise interest rates, stating that "we will continue to adjust the degree of monetary easing by raising policy rates," assuming that the current economic growth and inflation rate forecasts are realized.

Additionally, Governor Ueda assessed the U.S. tariff measures as "a situation with very high uncertainty."

Meanwhile, the next monetary policy meeting of the Bank of Japan, which decides the benchmark interest rate, will be held from the 16th to the 17th of next month.