TOKYO, June 3 (Xinhua) -- Japan's central bank governor Kazuo Ueda said Tuesday that the Bank of Japan (BOJ) will not push for rate hikes unless the economy and prices move in line with its expectations.
The BOJ chief told a parliamentary session that the central bank will not raise its policy rate just to make room for future monetary easing.
Ueda also noted that trade frictions triggered by high tariffs imposed by the United States could cause "the global economy to slow down and squeeze profits of domestic companies," underscoring its cautious stance about deciding the timing of future rate hikes.
As part of efforts to exit the ultra-loose monetary policy following a decade of massive easing, the BOJ has raised its key interest rate three times since March last year, when it implemented its first rate increase in 17 years. ■
