BoJ Governor Kazuo Ueda said he discussed economic and market conditions, including foreign exchange moves, in a meeting with Prime Minister Shigeru Ishiba today. Ueda told reporters afterward that “it’s desirable for currency rates to move stably, reflecting fundamentals,” but declined to elaborate further on the details of the exchange.
On policy, Ueda reaffirmed that the BOJ remains prepared to raise interest rates further if the economy and prices evolve in line with projections. He emphasized that the central bank will “scrutinize without any pre-conception” whether those projections materialize.
