No rate hike next month? BOJ Governor "hints" not in a hurry to raise rates, saying "there is enough time to weigh policy"

Kazuo Uchida reiterated the Bank of Japan's stance, that if the data supports it, the central bank will raise interest rates again, but will not rush to do so. Some analysts believe that his remarks indicate a low possibility of policy action by the Bank of Japan at the next meeting.

On the 24th, Bank of Japan Governor Kazuo Uchida stated in a speech that if the economic activity and price outlook presented in the outlook report are achieved, the Bank of Japan will adjust the degree of easing.

He said: "If the price trend is around 2%, maintaining a neutral interest rate is ideal. The Bank of Japan will closely monitor market trends with a sense of urgency."

He still maintains the cautious attitude of the Bank of Japan, stating: "When making policy decisions, the central bank needs to carefully assess the development of domestic and international financial and capital markets, as well as factors such as the economic conditions behind these developments. We have enough time to do so."

Many economists expect the central bank to wait until December or January next year to raise the benchmark interest rate again, as the Bank of Japan has already raised interest rates twice this year.

After Kazuo Uchida's speech, the US dollar showed no significant fluctuations against the Japanese yen, now trading at 144 yen.

On the 20th, the Bank of Japan stood still as scheduled, maintaining the policy interest rate level unchanged in the range of 0.15%-0.25%. The resolution stated that the Japanese economy is gradually recovering, inflation expectations are moderately rising, and the impact of exchange rate fluctuations on prices is greater than before.

At the afternoon press conference on the same day, Kazuo Uchida stated that if the outlook is realized, the degree of policy rate easing will be adjusted