Osaka –
The Bank of Japan can afford to spend time examining market and foreign economic developments when setting monetary policy, Governor Kazuo Ueda said on Tuesday, suggesting the central bank is in no hurry to raise interest rates further.
Ueda reiterated that the BOJ will raise interest rates if underlying inflation accelerates toward the 2 percent target as forecast, a sign that there will be no change in its stance of gradually raising borrowing costs from a level that is still near zero.
However, he also warned of risks surrounding the outlook, such as unstable financial markets and uncertainty over whether the US economy can make a soft landing.
