BOJ Could Raise Rates Even if Prices Move in Line With Projections, Gov Ueda Says
By Megumi Fujikawa
TOKYO--Bank of Japan Gov. Kazuo Ueda said Friday the bank could raise its interest-rate target even if inflation didn't turn surprisingly stronger than expected.
"If prices continue to move in line with our projections, it can be a reason for us to raise our policy interest rates," Ueda said at a news conference.
Earlier in the day, the Japanese central bank maintained its target for the overnight call rate at a range of 0% to 0.1%. At its previous meeting in March, the bank decided to end most of its unconventional easing measures, including negative interest rates.
The bank's quarterly outlook released Friday showed that inflation is likely to remain around the bank's 2% target over the next three years.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
April 26, 2024 04:36 ET (08:36 GMT)
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