Economic news
BOJ will remain vigilant to unstable market moves, says Governor Ueda
2024.08.22 21:12
(Reuters) -Bank of Japan Governor Kazuo Ueda said on Friday the central bank will remain highly vigilant to market moves, as markets remain unstable.
Ueda said the market volatility seen in early August was due to rising fears of a U.S. recession, stoked by the country’s weak economic data, while the BOJ’s interest rate hike in July led to a sharp reversal of “one-sided yen falls”.
“Markets at home and abroad remain unstable, so we will be highly vigilant to market developments for the time being,” Ueda said in parliament, where he was summoned to explain the BOJ’s decision in July to raise interest rates.
