Overview

• Bank of Japan Governor Kazuo Ueda met with Prime Minister Shigeru Ishiba to discuss the country's monetary policy.
• Ueda assured the PM that the BOJ will move cautiously in deciding on further rate hikes to support Japan's economy.
• Economy Minister Ryosei Akazawa reiterated that Japan's priority is to completely exit deflation, which will take time.
• The BOJ raised short-term borrowing costs to 0.25% in July and ended negative rates in March, aiming for durable 2% inflation.
• The BOJ's next rate review is scheduled for October 30-31, with another meeting in December, amid expectations of a potential rate hike by year-end.