doubledownfreespins| Kazuo Ueda reiterates that the Bank of Japan will raise interest rates if inflation moves towards the 2% target

editor Home 2024-04-23 5 0

Gelonghui April 23| Bank of Japan Governor Kazuo Ueda reiterateddoubledownfreespinsIf core inflation rises towards the 2% target, the central bank will raise the benchmark interest rate. After the yen hit a 34-year low against the dollar, he appeared to have carefully adjusted his words to avoid further exacerbating yen weakness. "If the price trend moves towards 2%, which is in line with our outlook, we will adjust the degree of monetary easing. In this case, it means raising short-term interest rates,"Kazuo Ueda said in response to questions on Tuesday in Parliament. "We have no preconceived views on the specific time and extent of policy adjustments." Kazuo Ueda did not emphasize the Bank of Japan's assessment that financial conditions would remain loose to avoid causing the yen to fall further before the policy meeting. Almost all observers predicted that the bank would sit tight on Friday, leaving the market's focus on any hints of the next move. Most analysts predict that the Bank of Japan will raise interest rates in October.