BOJ’s Deputy Chief Hints at More Rate Hikes, Without Rushing

Bank of Japan Deputy Governor Shinichi Uchida signaled that the benchmark interest rate remains on a gradual upward path, in remarks that may quell speculation of an early move.

“The Bank will accordingly continue to raise the policy interest rate and adjust the degree of monetary accommodation” if the economic outlook is realized, Uchida said Wednesday in a speech to business leaders in Shizuoka, central Japan. “In this regard, the key point of the outlook is that the bank expects the 2% price stability target to be achieved.”