[Bank of Japan Governor Kazuo Ueda Reaffirms Intent to Raise Interest Rates]
On November 18, Bank of Japan Governor Kazuo Ueda stated after his first bilateral meeting with Prime Minister Sanae Takaichi that the central bank is gradually adjusting the degree of monetary easing and reaffirmed the intent to raise interest rates. He noted that the mechanism of inflation growing in tandem with wages is being restored and explained to Takaichi the situation regarding the adjustment of monetary easing. Ueda also mentioned that the two sides discussed foreign exchange issues, and the central bank will closely monitor the impact of foreign exchange on the economy, work closely with the government, and make appropriate policy decisions based on economic data.
