Japan’s BOJ says proceed with policy normalization only with strong data support

Bank of Japan Governor Kazuo Ueda stated that the central bank will closely study incoming economic and inflation data before deciding on a rate hike at its October meeting. He noted that while global growth is holding up, trade-policy spillovers and domestic uncertainty require caution. Ueda emphasized there is not much divergence in his current views vs earlier ones, and signaled a conditional approach to normalization. The stance underscores BOJ’s balancing act between anchoring inflation and preserving growth.