Bank of Japan Governor Kazuo Ueda said the Board can make a decision to raise the policy rate at the upcoming March and April meetings after examining the available information at that time, the Yomiuri Shimbun reported Thursday.
In an interview with the newspaper on Tuesday, Ueda said the March Tankan survey, due April 1, would be an important input, but stressed that officials gather information continuously through hearings and other channels before the survey is released.
“There is person who judged that the 2% price target is achieved. But the view isn’t a majority view among the board members. We don’t fall behind the curve,” Ueda said.
The governor reiterated that underlying inflation has yet to reach the 2% target.
He added that if wage growth proves stronger than expected and corporate pass-through accelerates, achievement of the 2% target could come earlier than projected in the latter half of the forecast period.
Ueda also said he sees no major impact on Japan’s economy from U.S. President Donald Trump’s new 10% global tariff, but noted the Bank must carefully monitor developments in the economy and financial markets.
