MNI BRIEF: BOJ Uchida Sees Need To Raise Rate On Price Moves

Bank of Japan Deputy Governor Shinichi Uchida said on Monday that the BOJ will raise the policy interest rate to adjust the degree of easy policy if the economy and prices move in line with the bank’s forecasts.

Uchida told lawmakers that the BOJ will manage its monetary policy in an appropriate manner to achieve the 2% target in a stable and sustainable manner, while examining price moves and risks.

He added that it is appropriate for foreign exchange rates to move in a way that reflect economic fundamentals stably.

The BOJ policymakers are focused on the results of the March Tankan business sentiment survey due out on April 1 and the reports at the Bank's branch managers' meeting on April 7.