Bank of Japan Governor Ueda spoke earlier:
More now:
- Challenging situation remains
- It'll become even more challenging towards the end of this year and into early 2024
- BOJ has not made decision on which interest rate to target once we end negative interest rate policy
- Options include raising rate applied to financial institutions' reserves at BOJ, or revert to policy targeting overnight call rate
- Don't have any specific idea in mind on how much we will raise rates once we end negative rate policy
- Whether to keep interest rate at zero or move it up to 0.1%, and at what pace short-term rates will be hiked after ending negative rate policy, will depend on economic and financial developments at the time
