BOJ Set to Debate Rate Rise as Inflation Nears Target

Bank of Japan Governor Kazuo Ueda announced on Tuesday that underlying inflation in Japan is nearing the central bank's price stability target of 2 percent. The BOJ will discuss whether to raise interest rates at its next meeting, scheduled for September 17 and 18.

The possibility of another interest rate increase has been expected by many market participants and BOJ watchers, who anticipate the Japanese central bank to raise its policy rate from the current 1.00 percent.

Citing currency movements, the Middle East conflict, and demand for artificial intelligence as key factors affecting inflation and future policy decisions, Ueda stated that 'We will discuss it at every meeting, including the next one.'