To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
REUTERS FILE PHOTO: Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan, June 14, 2024.
Jiji Press
15:33 JST, October 24, 2024
Washington (Jiji Press)—Bank of Japan Governor Kazuo Ueda said Wednesday that the BOJ is watching monetary policies in the United States and Europe “very carefully” in forecasting economic and price trends in Japan.
Monetary policy changes in other countries could sometimes have “significant effects” on Japan’s economy and inflation, he said at an event held by the International Monetary Fund in Washington.
His remarks came at a time when the BOJ has begun to raise interest rates while the central banks in the United States and Europe are moving for monetary easing.
“We’ve been, for the last couple of months, worried about what might happen to the U.S. economy going forward,” Ueda said, noting that U.S. employment data “have been moving around” and that the BOJ has therefore “yet to determine what the medium-term trend is” for the world’s biggest economy.
Stock prices showed wild fluctuations after the BOJ’s Policy Board decided an interest rate hike in late July. On this, Ueda stated, “I could say that there was a period in July, where there was no communication, explicit or formal communication, between board members and the market or the media.”
“It’s still taking time for us to get to 2 pct inflation (in Japan) in a sustainable manner,” Ueda said.
