BoJ’s Ueda: Appropriate to raise rates if trend inflation heightens in line with our forecast

Japan's real interest rate remains deeply negative, stimulating economy and working to push up prices.

If trend inflation moves to around 2%, it is desirable to move our policy rate to near levels seen neutral to economy, prices.

We will raise interest rate if economy, prices move in line with forecasts shown in our quarterly outlook report.

Uncertainty surrounding economy, prices are high.

BoJ must conduct monetary policy in timely, appropriate fashion without having a pre-set schedule, taking into account various uncertainties.

We will watch with strong sense of urgency US and overseas economic outlook, still unstable market developments.

One-sided Yen falls have been reversed since August, rise in import prices moderating.

We can afford to spend time scrutinising market moves and overseas developments behind market developments.

It is also clear persistent, accelerating inflation also have negative impact on economy.

Will release findings of comprehensive review by year-end.

Expect elevated corporate profits to lead to increase in capex.

Consumption likely to increase moderately as household income rises.

Developments regarding the US economy remain uncertain including how past Fed rate hikes could affect labor market.

Prices are rising by around 2% for wide range of goods.

Looking closely at service price moves, it is becoming more clear that impact of wage rises is heightening.

Trend inflation likely to gradually heighten toward 2%.

Change in corporate price, wage-setting behaviour likely to become embedded in society, keep inflation on the rise next fiscal year and beyond.

Must scrutinize whether overseas developments could affect japan's corporate profits, behaviour.