Bank of Japan (BoJ) Governor Kazuo Ueda said on Wednesday that his country's economy is recovering "moderately," despite some sectors still showing weakness, noting that the bank will keep raising its rates if the trend continues.
"Regarding monetary policy, if the economic recovery continues and the outlook we have presented is realized, we will proceed to raise the policy interest rate accordingly and adjust the degree of monetary easing," Ueda said at the 100th Trust Conference. "We will carefully monitor domestic and international economic and price developments, including the impact of US tariff policies, as well as financial market trends," he added.
Ueda also noted that inflation in Japan is currently below 2% but that it is "gradually rising" along with the increases in wages.
