BOJ's Ueda Vows to Keep Raising Rates Amid Inflation Risks

Bank of Japan Governor Kazuo Ueda reaffirmed his commitment to raising interest rates, citing accommodative financial conditions. Speaking at a news conference in Asheville, North Carolina, Ueda emphasized the need for the BOJ to pay attention to inflationary risks as underlying inflation approaches its 2% target.

Ueda noted that data released after the BOJ's previous meeting in July showed economic and price conditions moving in line with projections. However, he also stressed the importance of scrutinizing the cumulative impact of past rate hikes on the economy.

The BOJ will discuss these factors at its upcoming policy meeting on September 17-18, including potential upside inflation risks. Ueda declined to comment on market expectations for a rate hike at this meeting.