Kazuo Ueda: If the economic outlook is realized, the Bank of Japan will continue raising interest rates.

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On Friday morning, the Bank of Japan announced a 25-basis-point rate hike, raising the unsecured overnight call rate to 0.75%, the highest level since 1995. The decision was unanimously approved with a 9:0 vote.

Bank of Japan Governor Kazuo Ueda stated in the subsequent press conference that the real interest rate is expected to remain at an extremely low level, and the accommodative monetary environment will continue to support the economy.

Ueda further pointed out that if the economy and prices develop as expected, and as the economy and prices improve, the Bank of Japan will continue to raise policy rates. The likelihood of achieving the economic outlook is increasing.

Up to now, Governor Ueda is still reiterating the content of the Bank of Japan's statement and has not given clear guidance on the timing of the next rate hike.

Continuously updating

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