BOJ Pledges Regular Rate Hike Discussions Amid Inflation Target

The Bank of Japan (BOJ) will discuss raising interest rates at every policy meeting, including its next gathering on September 17-18, according to Governor Kazuo Ueda. In a press conference following the G20 finance ministers and central bank chiefs' meeting in Asheville, North Carolina, Ueda stated that they would 'fully discuss' a rate increase at every meeting.

Ueda expressed confidence in achieving Japan's 2% inflation target, saying underlying inflation is 'quite close' to it. The BOJ will consider the pace of rate increases in light of developments in the Middle East and foreign exchange markets, he added.