Bank of Japan Gov. Kazuo Ueda avoided giving any clear signal that he might raise interest rates next month by sticking to his view that the bank needs to keep monitoring risks for the economy in comments that nudged the yen down a tad.
“The timing and pace of adjusting the degree of monetary accommodation will depend on developments in economic activity and prices as well as financial conditions going forward,” Ueda said in a speech at a business conference in Tokyo on Wednesday.
“The bank needs to pay due attention to various risk factors at home and abroad, and to examine how these factors will affect the outlook and risks for Japan’s economic activity and prices and the likelihood of realizing the outlook,” he said.