BoJ Governor Kazuo Ueda indicated that the central bank is not in a hurry to adjust its monetary policy, stating after the G20 meeting in Washington, “I believe we have enough time” to make a decision. This suggests that BoJ will refrain from hiking interest rates in its upcoming meeting next week.
Ueda emphasized the importance of considering the broader economic context, including the effects of the weak Yen and uncertainties surrounding the US economy, which may be influenced by the upcoming US presidential election.
During the same press conference, Japan’s Finance Minister Katsunobu Kato reiterated concerns over Yen’s high volatility. He highlighted the need for close attention to fluctuations in the foreign exchange market.
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