Oddbean

BOJ chief says it is 'still taking time' to hit inflation goal ========== Bank of Japan (BOJ) Governor Kazuo Ueda stated on October 23, 2024, that it is 'still taking time' to achieve the 2% inflation target sustainably; he emphasized the need for caution in raising interest rates, currently near zero; Ueda warned that slow rate increases could lead to speculative positions that may harm the yen; the BOJ ended negative rates in March 2024 and raised short-term rates to 0.25% in July 2024; underlying inflation in Japan has been around zero before 2022, rising due to global energy and food price increases; Ueda indicated the BOJ is expected to keep rates steady at the upcoming policy meeting, with most economists anticipating another rate hike by March 2025; he expressed concerns about determining the appropriate size and timing of future rate hikes. #BankOfJapan #Inflation #InterestRates #KazuoUeda #EconomicPolicy #Japan #Imf #MonetaryPolicy #Speculation #GlobalEconomy https://theedgemalaysia.com/node/731364