Bank of Japan Governor: We expect the next interest rate increase when we become more confident in achieving our forecasts.

During his remarks at the monetary policy press conference on Thursday, Bank of Japan Governor Kazuo Ueda stated that the central bank will continue to adjust the degree of monetary easing by adjusting interest rates if it wants to achieve economic and price expectations.

Ueda's key statements during the Bank of Japan press conference were:

• The Bank of Japan will closely monitor financial markets and foreign exchange markets and their impact on the economy and prices.
• The impact of movements in the Japanese yen on prices has become greater than in the past, with companies becoming more cautious about raising wages and prices.
• The Japanese economy is recovering moderately, although some sectors are showing weak movements.
• Uncertainty still surrounds the Japanese economy, and prices remain high.
• We will continue to adjust the degree of easing if we want to achieve our expectations for economic growth and inflation.
• The impact of external economies on the Japanese economy, including the U.S. economy, should be monitored, as changes there affect Japanese economic activities and prices.
• We may see the next increase in interest rates when we become more confident in achieving our expectations, but this does not mean we will decide to raise interest rates based solely on that.
• I do not believe that changes in the political landscape will directly affect the Bank of Japan's price expectations.
• The decline in risks to the U.S. economy means we can return to making decisions based on regular policy factors.
• The Bank of Japan expects the trend of consumer price inflation to align with the target in the second half of the period.
• The Bank of Japan will move towards adjusting the degree of monetary easing if economic expectations are achieved.
• Economic growth continues above potential.