TOKYO : The Bank of Japan must focus on the economic impact of unstable markets and risks from overseas, Governor Kazuo Ueda said on Friday, suggesting the central bank was in no rush to raise interest rates further.
FILE PHOTO: Bank of Japan Governor Kazuo Ueda attends a press conference after its policy meeting in Tokyo, Japan June 14, 2024. REUTERS/Kim Kyung-Hoon//File Photo
But he warned of"still high" uncertainty surrounding the country's recovery prospects, and stressed the need to keep a close eye out on the impact of market volatility on the economy. "For the time being, we must closely monitor such developments with high vigilance, and scrutinise their fallout on Japan's economic and price outlook, risks as well as the likelihood of achieving our forecasts," he said.
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