BOJ's Ueda expects further progress in hitting price target next year

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BOJ's Ueda expects further progress in hitting price target next year - Channel News Asia

Quick Summary:

TOKYO : Bank of Japan Governor Kazuo Ueda said on Wednesday the central bank expects the economy to move closer to sustainably achieving its 2 per cent inflation target next year, suggesting the timing of its next interest rate hike was nearing.

But he warned of the need to scrutinise the fallout from "high uncertainties" surrounding overseas economies, especially the economic policies of the incoming U.S.administration of President-elect Donald Trump.

"The timing and pace of adjusting the degree of monetary accommodation will depend on developments in economic activity and prices as well as financial conditions going forward," Ueda said in a speech to business lobby Keidanren.