BOJ chief Ueda to speak in Nagoya, focus on hints of next rate-hike timing
2024.11.14 22:42
TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda will deliver a speech and hold a news conference in the central Japan city of Nagoya on Monday, the BOJ said, an event that will be closely watched by markets for hints on whether it could raise interest rates next month.
It will be Ueda’s first public appearance since Donald Trump’s victory in the U.S. presidential election on Nov. 5, and Japan’s third-quarter gross domestic product (GDP) data showing surprise resilience in consumption.
The governor will deliver a speech and take questions from business executives from 10:00 to 11:30 a.m.(0100-0230GMT), followed by a press conference from 1:45 p.m. to 2:15 p.m. (0445-0515GMT), the central bank said on Friday.
BOJ governors historically visit Osaka and Nagoya each year to exchange views with business executives and explain the reasoning behind the central bank’s monetary policy decisions.
Ueda’s comments will be scrutinised by markets for clues on how soon the BOJ could raise interest rates, with analysts divided on whether it may come in December or January next year.
The BOJ ended negative interest rates in March and raised its short-term policy rate to 0.25% in July on the view Japan was on the cusp of durably achieving its 2% inflation target.
