Bank of Japan Governor Ueda said the BOJ will gradually raise policy rates and adjust monetary easing based on developments in economic activity, prices and financial conditions, and will decide timing and pace only after assessing risks and the likelihood that baseline economic and price scenarios are realised. Economists largely expect the BOJ to keep policy unchanged at its Oct. 30 meeting; Ueda reiterated the bank’s stance, signaling no push to counter that market view while leaving room for

Bank of Japan Governor Ueda said the BOJ will gradually raise policy rates and adjust monetary easing based on developments in economic activity, prices and financial conditions, and will decide timing and pace only after assessing risks and the likelihood that baseline economic and price scenarios are realised. Economists largely expect the BOJ to keep policy unchanged at its Oct. 30 meeting; Ueda reiterated the bank’s stance, signaling no push to counter that market view while leaving room for hikes after October. OIS pricing implies roughly a 12% chance of a rate increase at the Oct. meeting and about a 90% chance when the December meeting is included.