TOKYO, Sept. 19 (Xinhua) -- Bank of Japan (BOJ) governor Kazuo Ueda on Friday reiterated that the central bank will continue to raise interest rates if the economy and prices move in line with projections.
At a news conference following the BOJ's two-day policy meeting that ended earlier in the day, Ueda said the Japanese economy may face downward pressure from higher U.S. tariffs but will likely withstand the hit.
More data will be needed to determine the next policy move, Ueda added.
The BOJ decided at the board meeting to maintain the policy of guiding its uncollateralized overnight call rate to around 0.5 percent, marking the fifth consecutive meeting in which the bank has left its benchmark interest rate on hold.
The central bank also decided that it will sell to the market its holdings of exchange-traded funds (ETFs) and Japanese real estate investment trusts (J-REITs) that the bank had purchased over a decade of unorthodox easing, taking another step toward normalizing monetary policy. ■
