Ueda Kazuo hinted that a rate hike is imminent, warning that bond yields are rising too quickly and may intervene to buy bonds. The yen once again fell below "5-suan."
Bank of Japan Governor Kazuo Ueda stated in the Diet that if the economic outlook materializes, interest rates will be raised, strengthening market expectations for a rate hike in Japan. He pointed out that long-term bond yields are rising too quickly, and the central bank will increase bond purchases under special circumstances. As a result, the Japanese yen fell to 4.98 against the Hong Kong dollar, and the US dollar was at 156.13 against the yen. Ueda mentioned that the likelihood of Japan's economic and price forecasts being realized is increasing, with a tight labor market and upward pressure on wages and prices. The market expects the Bank of Japan to raise interest rates next Friday, but Ueda did not respond directly
