TechFlow news: Bank of Japan Deputy Governor Shinichi Uchida said the central bank will not raise policy interest rates if financial markets remain unstable. In his first public remarks following Japan's historic stock market crash, Uchida described recent market movements as "extremely volatile" and emphasized the need to temporarily maintain accommodative monetary policy.
Uchida noted that authorities must monitor any potential impact of market developments on prices and the overall economy, and that the path of Japanese interest rates may change depending on such impacts. After Uchida's comments, the yen's decline accelerated to 2%, while the Nikkei 225 Index and the Topix Index rebounded more than 3%.
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