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Toru Fujioka
The Bank of Japan will likely postpone raising interest rates due to uncertainties stemming from U.S. tariff measures that could deal a blow to Japan’s economy, a former executive director said.
BUSINESS / Economy
Apr 15, 2025
BOJ will likely put rate hike aside for now, ex-official says
"They will be in a wait-and-see mode for a while,” said Kenzo Yamamoto, a former executive at the Bank of Japan.
The Bank of Japan's headquarters in Tokyo
BUSINESS
Apr 11, 2025
Price expectations rise in Japan as tariffs cloud BOJ rate path
Households expect average annual inflation of 9.6% over the next five years, the highest since June 2006.
Kazuyuki Masu, former executive vice president of Mitsubishi Corp., has been nominated as a new policy board member of the Bank of Japan.
BUSINESS / Economy
Apr 10, 2025
Ishiba picks ex-Mitsubishi executive Masu for BOJ board
Masu would replace Toyoaki Nakamura, a former Hitachi executive, whose five-year term ends on June 30.
Bank of Japan Gov. Kazuo Ueda said Wednesday the central bank's stance is to conduct policy appropriately by carefully assessing the remaining uncertainties surrounding tariffs.
BUSINESS / Economy
Apr 9, 2025
BOJ's Ueda conveys wait-and-see stance on U.S. tariffs
He suggests the central bank will see how the tariff measures evolve before assessing the potential impact, and any required response.
Household outlays declined 0.5% in February from a year earlier, led by falling outlays on clothes and footwear, housing and food.
BUSINESS / Economy
Apr 4, 2025
Japan’s household spending drops for first time in three months
The drop, ahead of sweeping tariffs announced by the U.S., was led by falling outlays on clothes and footwear, housing and food.
Seiji Adachi, a former member of the Bank of Japan's Policy Board, says there is a chance of a May rate hike.
BUSINESS / Economy
Apr 3, 2025
Ex-board member who just left BOJ sees chance of May rate hike
Seiji Adachi, whose five-year term ended last week, said he would probably vote for a rate hike in the central bank's May meeting if one was proposed.
Bank of Japan Gov. Kazuo Ueda told parliament on Wednesday that new U.S. tariffs could have a large impact on trade activities among nations, depending on their size and the area they cover.
BUSINESS / Economy
Apr 2, 2025
U.S. tariffs could have big impact on global trade, BOJ chief says
Gov. Kazuo Ueda also underlined the potential of such tariffs affecting households and business sentiment, which would go on to influence overall spending.
According to the internal affairs ministry on Friday, consumer prices excluding fresh food rose 2.4% in March from a year earlier as inflation in processed food accelerated.
BUSINESS / Economy
Mar 28, 2025
Tokyo inflation exceeds forecasts, keeping BOJ on rate hike path
The leading indicator for nationwide inflation is likely to keep BOJ Gov. Kazuo Ueda mulling over the right timing for further rate hikes.
Junko Koeda, a new member on the Bank of Japan's policy board, holds her inaugural news conference in Tokyo on Wednesday.
BUSINESS / Economy
Mar 27, 2025
BOJ’s newest board member avoids sending signal on timing of next rate hike
Junko Koeda's remarks are likely to keep market speculation alive over the odds of a rate change at the next meeting.
Bank of Japan Gov. Kazuo Ueda speaks at the central bank's headquarters on March 19.
BUSINESS / Economy
Mar 26, 2025
BOJ to keep raising benchmark rate if outlook is met, Ueda tells parliament
The central bank governor noted that while there are pockets of weakness, “the economy is recovering moderately.”
Citizens’ holdings of cash in the three months ended in December was down 3.4% from a year earlier in the biggest drop in the data going back to 1998.
BUSINESS / Economy
Mar 21, 2025
Japan’s households slash cash at record pace as inflation bites
The decline mostly likely reflects the wider adoption of cashless consumption as well as a rise in nominal consumer spending due to inflation.
While headline inflation cooled in February, underlying price pressure remains steady, raising concerns for households as real wages remain stagnant.
BUSINESS / Economy
Mar 21, 2025
Japan’s inflation slows less than expected, backing BOJ hikes
Consumer prices excluding fresh food rose 3.0% from a year ago in February, decelerating from a 3.2% pace in January.
Bank of Japan Gov. Kazuo Ueda has indicated he has little problem with the recent rising yield trend.
BUSINESS
Mar 13, 2025
Shift in BOJ stance favors free market functioning over intervention
People familiar with the central bank's policy approach say the market should decide rates, and that investors need to get used to a world without yield curve control.
A Bloomberg survey said almost three quarters of Bank of Japan watchers who responded said that U.S. tariffs could exert enough of a drag on Japan’s economy to delay the central bank’s rate hike path.
BUSINESS / Economy
Mar 12, 2025
BOJ watchers see gradual rate hikes with higher terminal rate
Economists now anticipate the terminal rate to be 1.25%, up from 1% in the previous survey.
Kazuo Momma, a former executive director in charge of monetary policy at the Bank of Japan, says June is the favored option for the central bank's next rate hike.
BUSINESS / Economy
Mar 11, 2025
BOJ’s next rate hike likely in June, former executive says
Kazuo Momma, a former executive director in charge of monetary policy, says the central bank is likely to move roughly every six months to maintain expectations.
Bank of Japan Deputy Gov. Shinichi Uchida
BUSINESS / Economy
Mar 5, 2025
BOJ’s deputy chief hints at more rate hikes, without rushing
The remarks come as BOJ watchers look for hints that the next upward move could come earlier than the view that projects the move will come in the summer.
Bank of Japan Gov. Kazuo Ueda speaks to reporters on Thursday in Tokyo.
BUSINESS / Markets
Feb 21, 2025
Japan yields fall as Ueda warns BOJ can step in to smooth market
Bond yields fell and the yen weakened following Ueda’s comments.
A customer visits a store along the Togoshi Ginza shopping street in Tokyo on Jan. 23. Rising fresh food prices contributed to the acceleration in overall inflation in January, as vegetable prices, including cabbage, soared.
BUSINESS / Economy
Feb 21, 2025
Japan’s inflation speeds up, keeping BOJ on rate hike path
Overall inflation accelerated to 4% from 3.6%, according to the internal affairs ministry, hitting that mark for the first time in two years.
Cabbage prices have risen to 2.6 times their five-year average in Japan.
BUSINESS / Economy
Feb 20, 2025
Japan’s food inflation is becoming harder for BOJ to overlook
The level of fresh food prices has risen 71.9% since 2010, about five times more than that of inflation excluding it.
The Bank of Japan Gov. Kazuo Ueda last month reiterated his long-held position that he needs more time to mull the fate of the ETFs because it’s a complicated issue.
BUSINESS / Economy
Feb 17, 2025
BOJ shifts focus to ETF assets as end of bank stock sales nears
The ETF holdings are the last major piece of Gov. Kazuo Ueda’s policy puzzle.

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