BOJ Governor Ueda Signals No Immediate Rate Hikes

Kazuo Ueda emphasizes the need to scrutinize economic data and global conditions before adjusting interest rates further.

Bank of Japan Governor Kazuo Ueda indicated that there is no rush to raise interest rates, emphasizing a cautious approach.
Ueda stated that the BOJ will closely monitor financial markets and global economic conditions, particularly focusing on October's service-price data available in November.
The BOJ's next policy meeting on October 30-31 will include a quarterly review of growth and inflation forecasts.
Ueda highlighted risks such as volatile financial markets and uncertainty about the U.S. economy's ability to achieve a soft landing.
The yen's recent stabilization has reduced the risk of inflation overshooting due to rising import prices, shifting the BOJ's focus to concerns about global growth and yen fluctuations.