Bank of Japan chief signals vigilance to yen moves, impact on economy
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The Bank of Japan, led by Governor Kazuo Ueda, is closely monitoring yen fluctuations due to their impact on the economy and prices. With the yen weakening past 160 against the dollar, Ueda indicated that rising import costs could lead to interest rate hikes. He emphasized that while the BOJ does not directly control exchange rates, currency movements significantly influence economic conditions. The BOJ maintained its short-term rate at 0.75% but hinted at a tighter monetary policy to combat inflation, especially with rising oil prices.
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Source: CNA The copyright of this article belongs to the original author/organization.
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