BOJ's Ueda Vows to Raise Interest Rates Amid Inflation Pressures

Bank of Japan Governor Kazuo Ueda reaffirmed his commitment to raising interest rates, stating that the central bank will continue to monitor financial conditions and debate whether inflation risks are increasing.

The BOJ's decision comes as underlying inflation remains close to its 2% target, prompting Ueda to caution that the central bank must pay attention to inflationary risks when guiding policy.

The governor also emphasized the need for careful scrutiny of the cumulative impact of past rate hikes on the economy, ahead of a scheduled BOJ meeting later in September.