Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “timing of next rate hike is data dependent.”
Additional quotes
No comment on PM Shigeru Ishiba’s remarks on monetary policy .
Expect the Bank of Japan (BoJ) to adjust degree of monetary policy if economy moves in line with forecast, even at a very slow pace.
Personally feel we need to proceed very carefully in adjusting degree of monetary support.
Can’t say now when the BoJ will raise rates again.
Need to scrutinize whether consumers’ sentiment will shift to one where they can swallow price hikes.
As Governor Ueda has said, we have time to scrutiniae economic developments, before contemplating rate hike.
Current financial environment is sufficiently easy.
One-sided, sharp Yen fall seen in July has subsided.
Upside inflation risk from weak Yen has subsided.
Market reaction
The Japanese Yen is recovering further ground on the BoJ official’s latest comments, which eases rate hike concerns. USD/JPY was last seen trading at 146.55, still up 0.07% on the day.
Source: https://www.fxstreet.com/news/bojs-noguchi-timing-of-next-rate-hike-is-data-dependent-202410030542