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MNI BRIEF: BOJ's Ueda Says Hike Timing Up To Economy, Prices

Central Bank NewsPolicy NewsBank of JapanBriefAPACStoryJapan
MNI (TOKYO)
Bank of Japan Governor Kazuo Ueda said on Friday that the pace and the timing of future rate hikes will depend on economic activity and price developments, following the board's decision today to increase the policy rate 25 basis points to 0.50%, the first hike since July 2024. 
 
“The baseline view is unchanged that the BOJ will raise the policy rate to adjust the degree of easy policy in accordance with improvements of economic activity and prices,” Ueda told reporters. “We will discuss the outlook for monetary policy at every meeting based on available data and information at that time without having prediction.”
 
While the BOJ revised up its price view, Ueda ruled out the risk that the Bank would fall behind the curve. Inflation's year-on-year increase is likely to slow in or after the middle of the year, Ueda added, ruling out the risk that the BOJ will fall behind the curve. He also added today's rate hike will not spoil the economy as real interest rates remain at extremely low levels after Friday’s decision.
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MNI (TOKYO)
Bank of Japan Governor Kazuo Ueda said on Friday that the pace and the timing of future rate hikes will depend on economic activity and price developments, following the board's decision today to increase the policy rate 25 basis points to 0.50%, the first hike since July 2024. 
 
“The baseline view is unchanged that the BOJ will raise the policy rate to adjust the degree of easy policy in accordance with improvements of economic activity and prices,” Ueda told reporters. “We will discuss the outlook for monetary policy at every meeting based on available data and information at that time without having prediction.”
 
While the BOJ revised up its price view, Ueda ruled out the risk that the Bank would fall behind the curve. Inflation's year-on-year increase is likely to slow in or after the middle of the year, Ueda added, ruling out the risk that the BOJ will fall behind the curve. He also added today's rate hike will not spoil the economy as real interest rates remain at extremely low levels after Friday’s decision.