Bank of Japan Governor: The Japanese economy is recovering despite signs of weakness.

During a discussion on Monday morning, Bank of Japan Governor Kazuo Ueda stated that the Japanese economy is recovering moderately despite recent signs of weakness. He also emphasized that the Bank of Japan will raise interest rates when strong economic forecasts are achieved.

In addition, Ueda's statements included the following:

• The Bank of Japan will gradually raise interest rates to adjust monetary support in line with economic forecasts and prices.
• We are keen to monitor the impacts of various risks on economic forecasts, including developments in the U.S. economy.
• The Bank of Japan sees a moderate increase in private consumption trends.
• The Bank of Japan will maintain its stance to support economic activity.
• We note the rising income in both the corporate and household sectors.
• Gradual adjustment of monetary support and interest rates will help achieve the Bank of Japan's inflation target through sustainable economic growth.
• Increased spending is gradually intensifying the virtuous cycle of wages and inflation.
• The Bank of Japan will closely monitor developments in wage negotiations scheduled for the near future.
• It is essential to focus on the prospects of wage negotiations and how increasing wages will impact inflation.
• Achieving a sustainable increase in real wages, such as productivity growth, is extremely important.
• I expect executives of major companies to announce their commitment to sustainable wage growth.
• Companies should pass on higher labor costs by raising the prices of the goods and services they offer.
• The Bank of Japan will aim for a gradual easing of monetary policy to help achieve the inflation target.
• Long-term inflation expectations are anchored among households and businesses.
• I support a firm monetary policy to strengthen the economy.
• Inflationary pressures are expected to increase due to wage hikes.
• There is a high degree of uncertainty regarding the future growth pace in China.
• I expect core inflation to continue rising moderately.
• I see increasing odds of a soft landing.
• Careful monitoring of the U.S. economy is necessary.
• The Bank of Japan warns of volatile markets based on economic data and geopolitical risks.
• Japan's economy and prices remain vulnerable to volatile market movements.
• We are very interested in how U.S. policy will evolve under President-elect Trump, as the outlook for the U.S. economy will have a significant impact on the global economy.
• It will take a long time before we have any insights into how U.S. economic policy will evolve under Trump.