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Bank of Japan intends to monitor US tariff policy before next rate change
Kazuo Ueda, Bank of Japan Governor, signaled that the regulator is adopting the wait-and-see approach to adjusting interest rates. The central bank awaits more clarity on US import duties.
According to Ueda, the officials will pay close attention to the state of financial markets and Japan's economy, as well as inflation rates.
The Bank of Japan is still waiting to see the way US tariff policies evolve before assessing the impact of import duties at home and abroad, Bloomberg adds. The US imposed 24% levies on Japanese goods in addition to the previously implemented duties of 25% on automobiles and steel.
At the moment, traders see less than a one-third of a chance for a rate hike by the Bank of Japan this year. Last week, the probability of an increase in borrowing costs was estimated at 50%, Bloomberg reports.
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