BoJ’s Governor Ueda: Aware that long-term interest rates are rising rapidly
Bank of Japan (BoJ) Governor Kazuo Ueda told reporters that they need to closely monitor signs of upward price pressure and that he will take appropriate monetary policy to achieve the BoJ inflation target, after a Group of Seven finance chiefs and central bankers' meeting in Paris on Tuesday.
Key quotes:
G7 central banks agreed that rising energy prices are affecting inflation expectations, economy, financial markets.
Latest GDP data are mostly in line with our forecast, Middle East situation has begun to impact.
Need to closely monitor signs on upward price pressure.
Aware that long-term interest rates are rising rapidly.
When asked about BoJ tapering plans: will assess market situation, functionality.
Will take appropriate monetary policy to achieve inflation target.
Will closely work with the government on JGB market situation.”
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