Economy

Bank of Japan Gov. Kazuo Ueda Cites Tariff Uncertainty; Unpredictable U.S. Policy Clouds Economic Outlook

Reuters
Bank of Japan (BOJ) Governor Kazuo Ueda attends a press conference after the central bank’s policy meeting at BOJ headquarters in Tokyo, Japan, March 19, 2025.

The Yomiuri Shimbun

17:54 JST, March 19, 2025

Bank of Japan Gov. Kazuo Ueda said on Wednesday that uncertainty is increasing in the economic situation outside of Japan due to the high tariff policy of the administration of U.S. President Donald Trump.

“There is a great deal of uncertainty” concerning the high tariff policy, Ueda said at a press conference following the central bank’s Monetary Policy Meeting.

Ueda cited as a risk factor “the move of each country’s trade policy” with the high tariff policy in mind.

“We will determine our policies by closely examining the impact of the U.S. economy on the global economy and the Japanese economy and whether it will affect the prices and economic outlook,” he added.