world-economy

Bank of Japan to Continue Rate Increases, Governor Ueda Says

The Bank of Japan will maintain its campaign of interest rate hikes as economic conditions and inflation warrant, Governor Kazuo Ueda said Wednesday ahead of a closely watched policy decision. Ueda outlined conditions under which the central bank would proceed with further tightening. If the likelihood increases that Middle East tensions will ease and underlying consumer price inflation gradually rises toward 2 percent amid moderate economic growth, the Bank will raise its policy rate at an appropriate pace, he said during a Tokyo forum speech. The remarks came during Ueda's final scheduled public appearance before the upcoming policy meeting.