BOJ’s Ueda Keeps His Options Open by Reiterating Policy Stance

Bank of Japan Governor Kazuo Ueda indicated he aims to keep his options open ahead of the bank’s next policy meeting, as traders searched for hints on the next rate hike timing during three hours of questioning in parliament.

In delivering the bank’s semi-annual report to lawmakers Wednesday, Ueda reiterated the BOJ’s stance that it will continue to raise interest rates if its economic outlook is realized, and refrained from making comments that gave any clear hints as to when the central bank might next hike rates. Ueda also pointed to the rising price trend, though he said it hasn’t reached the 2% target the bank is seeking.