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Bank of Japan: If core inflation continues to rise, we are very likely to raise interest rates – Kazuo Ueda

He Governor of the Bank of Japan, Kazuo Ueda, spoke on Friday at a seminar organized by the Peterson Institute for International Economics. Ueda stated that Japan's central bank is “very likely” to raise interest rates if core inflation continues to rise and begin reducing its bond purchases in the future, although the timing is undecided.

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“The BoJ should maintain an accommodative monetary policy for the time being, as core inflation remains somewhat below its 2% target, and long-term inflation expectations remain close to 1.5%.”

“The BoJ will also begin to reduce its purchases of Japanese government bonds (JGB) (the timing and extent of the reduction are yet to be determined).”

“Regardless of what the data says in the near future, we would like to find a way and a time to reduce the amount of JGB purchases.”

“If core inflation continues to rise, it is very likely that we will raise interest rates.”

Source: Fx Street

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