FX.co ★ October Rate Decision Hinges on Data: BoJ Governor Ueda

Bank of Japan Governor Kazuo Ueda announced on Thursday that the central bank will thoroughly assess a variety of data, including insights from his visit to Washington, before deciding on a potential interest rate increase in October. He emphasized that any decision to raise rates hinges on an improved likelihood of achieving the bank's growth and inflation targets. Following the G7 and G20 finance meetings, Ueda remarked that while global and U.S. economies exhibit resilience, the impacts of U.S. tariffs are anticipated to manifest soon. Domestically, Japan's prominent political entities, the Liberal Democratic Party (LDP) and the Constitutional Democratic Party (CDP), have reportedly reached a consensus to conduct a parliamentary vote on October 21 for the appointment of the next prime minister, as reported by Kyodo News.