BoJ’s Ueda: Appropriate to raise rates if trend inflation heightens in line with our forecast

Bank of Japan Governor Kazuo Ueda said during his scheduled appearance on Tuesday that it is “appropriate to raise rates if trend inflation heightens in line with our forecast.”

Additional comments

Japan's real interest rate remains deeply negative, stimulating economy and working to push up prices.

If trend inflation moves to around 2%, it is desirable to move our policy rate to near levels seen neutral to economy, prices.

We will raise interest rate if economy, prices move in line with forecasts shown in our quarterly outlook report.

Uncertainty surrounding economy, prices are high.

BoJ must conduct monetary policy in timely, appropriate fashion without having a pre-set schedule, taking into account various uncertainties.

We will watch with strong sense of urgency US and overseas economic outlook, still unstable market developments.

One-sided Yen falls have been reversed since August, rise in import prices moderating.

We can afford to spend time scrutinising market moves and overseas developments behind market developments.