TOKYO - The Bank of Japan is facing fresh communication challenges as last week's decision to raise interest rates, coupled with U.S. recession fears, roils financial markets and cloud the outlook for further rate hikes.
In a speech in February, Uchida set out the BOJ's plan on how to unwind a complex set of stimulus measures that laid the groundwork for its decision a month later to end negative interest rates and bond yield control. Senior officials from the ruling and main opposition parties agreed on Tuesday to convene the lower house financial affairs committee session, where Ueda will be asked to speak, the source said, confirming an earlier report by Japan's Jiji news agency.
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