BoJ’s Ueda: No preset idea on rate hikes

Addressing the parliament today, BoJ Governor Kazuo Ueda said while changes in inflation projections could necessitate a shift in monetary policy, the BoJ currently has no “preset idea on the specific timing and pace” of rate hikes.

Governor Ueda also reiterated the necessity of maintaining ultra-loose monetary policy for now. He pointed out that trend inflation — price rises driven by domestic demand and assessed through various indicators — is still “somewhat below 2%.”