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2026-09-18 15:14:09
[Bank of Japan Governor: Will Continue to Tighten Policy Based on Economic and Price Developments] ⑴ Bank of Japan Governor Ueda spoke at the press conference following today's policy decision, highlighting the following key points: The Japanese economy is likely to continue its moderate growth; the underlying inflation rate is approaching 2%; there is a risk that the underlying inflation rate will exceed the 2% price target; and financial conditions in Japan have remained loose. ⑵ The Bank of Japan will continue to raise policy interest rates and adjust the degree of monetary easing based on economic activity and prices; it will consider adjusting the timing and pace while reviewing the possibility of achieving the baseline scenario for the economic and price outlook. ⑶ It is important to stabilize the underlying inflation rate at around 2%; the risk of exceeding the target is rising. He believes the policy phase has changed; the short-term objective has changed significantly. Achieving the 2% target more steadily has become more important. ⑷ No interest rate hikes are being considered at a specific time; risks will be assessed at each policy meeting. ⑸ He has not yet commented on objections and how they might change the Bank of Japan's outlook. However, he reiterated that the Bank remains on the path of further tightening monetary policy based on the latest developments in the economic and inflation outlook. ⑹ He did not make any pre-commitment regarding the timing and pace of further interest rate hikes, but at least for now, this possibility remains. (7) The US dollar fell to 156.70 against the Japanese yen from 157.10, giving back some of the day's gains.
