TechFlow, April 16 — According to Jinshi Data, Bank of Japan Governor Kazuo Ueda said that if U.S. tariffs damage the Japanese economy, the central bank may need to take policy action, implying a possible pause in its rate hike cycle. Ueda stated that since February, risks surrounding former U.S. President Trump's policies have become "closer" to the adverse scenario envisioned by the BOJ, adding that recent developments have already affected business and household confidence. He said that if economic and price developments align with the BOJ's forecasts, the central bank will continue raising interest rates "at an appropriate pace." "But we will carefully assess, without preconceptions, the extent to which U.S. tariffs could harm the economy," he said. "It may be necessary to implement a policy response. We will make appropriate decisions based on how the situation evolves." These remarks reinforced market consensus that the BOJ will likely pause rate hikes at its next policy meeting on April 30 to May 1, with the current interest rate at 0.5%.
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