Nagoya, Dec. 1 (Jiji Press)–Bank of Japan Governor Kazuo Ueda said Monday that the central bank delaying an interest rate hike could cause turmoil. “Being slow to adjust the degree of monetary easing could take inflation to levels as high as in the United States and Europe,” Ueda said at a press conference in the central city of Nagoya. Ueda added that high inflation could force the BOJ to raise interest rates significantly, which “would cause turmoil.” The BOJ is scheduled to hold a policy-setting meeting on Dec. 18-19. During his speech earlier on Monday, the BOJ chief indicated that the central bank will make a decision after assessing moves ahead of next year’s “shunto” labor-management wage negotiations. He emphasized that an interest rate hike would not brake the economy but would be a “process of loosening the accelerator for a stable economy and prices. One focus is whether the administration of Prime Minister Sanae Takaichi, who advocates for monetary easing, will tolerate a BOJ rate hike. END [Copyright The Jiji Press, Ltd.]
Delay in Raising Rates Could Cause Turmoil: BOJ Governor
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