BoJ governor reaffirms preference for rate hikes
Ueda says policy normalisation should continue amid near-zero output gap and tight labour conditions
The governor of the Bank of Japan has said continued rate hikes are necessary because the country’s output gap has been close to zero and labour market conditions have been tight.
In a speech on November 20, Kazuo Ueda said he believed the BoJ should continue with policy normalisation because its current rates were “significantly low”.
“In this situation, I believe it is necessary that the [BoJ] continue to raise the policy interest rate and adjust the degree of monetary accommodation in
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