MNI BRIEF: BOJ Ueda, Uncertainties Linked to Tariffs Surge

Bank of Japan Governor Ueda warned on Thursday that uncertainties linked to U.S. tariffs have increased sharply and the bank will assess their impact on the economy and prices without preconditions, and conduct policy appropriately.

Ueda told lawmakers that the tariffs will put downward pressure on the Japanese economy through exports, while uncertainty worsens corporate and consumer sentiment and spending, and has an adverse impact on the financial markets.

The economy and prices were largely moving in line with the bank’s forecast, and officials will raise the policy rate to adjust the degree of easy policy as real interest rates stay at low levels if the economic and price outlook are realised, Ueda added.

The BOJ will hold its policy-setting meeting on April 30-May 1 and will review the medium-term economic growth and inflation outlook from fiscal 2027 to March 30, 2028.