MNI: BOJ Will Mull Pros and Cons of Raising Rate - Ueda

Bank of Japan Governor Kazuo Ueda said on Monday that the BOJ will consider the pros and cons of raising the policy interest rate and make decisions as appropriate at its Dec. 18-19 meeting.

“At the MPM, the Bank will examine and discuss economic activity and prices at home and abroad as well as developments in financial and capital markets, including the point I just mentioned, based on various data and information, and will consider the pros and cons of raising the policy interest rate and make decisions as appropriate,” Ueda told business leaders in Nagoya City. (See MNI POLICY: Ueda Dec 1 Speech Crucial For BOJ Hike Timing)

“This is the context in which the Bank has been gradually adjusting the degree of monetary accommodation to achieve the price stability target of 2% in a sustainable and stable manner. Adjusting the degree of accommodation appropriately -- without being too late or too early -- will be necessary to smoothly achieve the price stability target while ensuring stability in financial and capital markets, and to guide Japan's economy onto a long-term growth path, which will ultimately lead to the success of the efforts undertaken by the government and the Bank thus far."