▲ Bank of Japan
Bank of Japan Deputy Governor Ryozo Himino has emphasized the central bank's stance to continue raising policy rates.
Speaking at a financial and economic meeting in Saitama today (August 27), Deputy Governor Himino described the current financial environment as accommodative and stated, "We will continue to raise policy rates and adjust the degree of monetary easing."
Himino also stressed the need to be more mindful than before of the risk that prices could rise faster than expected.
He added, "Preventing a situation where delayed rate hikes intensify inflation, forcing us to raise rates sharply, is ultimately desirable for small and medium-sized enterprises, mortgage users, and public finances."
The Bank of Japan is scheduled to hold a monetary policy meeting on September 17 – 18, with think tank Totan Research projecting an 87% probability that the meeting will decide on a rate hike.
Having decided at its meeting in June to raise the policy rate to 1.0%, its highest level in 31 years, any additional rate hike decided at the September meeting would mark the fastest pace of rate increases on record.
(Photo: Yonhap News)
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