Bank of Japan Governor KazuoUedasaid on Tuesday that the Japanese central bank doesn’t have any preset idea on the timing, orpace of future rate hikes, adding that future monetary policy guidance will depend on economy, price, market development at the time, per Reuters. Key quotes “Don't have any preset idea on timing, pace of future rate hike.” “If trend inflation accelerates in line with our forecast, we will adjust the degree of monetary support through interest rate hike.
What has been the Bank of Japan’s policy? The Bank of Japan has embarked in an ultra-loose monetary policy since 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment. The bank’s policy is based on Quantitative and Qualitative Easing , or printing notes to buy assets such as government or corporate bonds to provide liquidity.