Ueda Indicates BOJ Is Still Eyeing More Rate Hikes, Boosting Yen

Bank of Japan Governor Kazuo Ueda gave the yen a boost by clearly indicating his intention to continue raising the benchmark interest rate if the economy improves as expected.

“We will adjust the degree of monetary easing as needed” to ensure that the bank achieves its sustainable price goal if incoming data give authorities greater confidence that their economic expectations will be met, Ueda said in a speech at an international conference hosted by the BOJ in Tokyo Tuesday.

The yen rose as high as 142.12 against the dollar shortly after his remarks.

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