BOJ Chief Vows to Keep Raising Rates Amid Inflation Concerns

Bank of Japan Governor Kazuo Ueda stated that the central bank will continue to raise interest rates due to accommodative financial conditions, and debate this month whether upside inflation risks are heightening.

The BOJ must pay particular attention to inflationary risks in guiding policy as underlying inflation is quite close to its 2% target, Ueda said at a news conference after attending the G20 finance leaders' gathering.

The central bank will scrutinize how the cumulative impact of past rate hikes affect the economy and whether it's moving in line with their baseline scenario, including risks, Ueda added. The BOJ will debate these factors thoroughly, including at its next policy meeting on September 17-18.