TOKYO, Oct. 30 (Xinhua) -- Bank of Japan (BOJ) Governor Kazuo Ueda said Thursday that it is necessary to assess more economic data before resuming interest rate hikes, as the central bank left its policy rate unchanged at the end of a two-day meeting.
At a news conference, Ueda said the bank needs to evaluate more data on domestic wage trends, which could be influenced by U.S. President Donald Trump's trade policies.
Ueda added that it "still remains highly uncertain" how overseas economic activity and prices will respond to higher U.S. tariffs, noting that the likelihood of achieving the bank's outlook has increased.
Ueda said the bank will adjust the degree of monetary accommodation when it is convinced, irrespective of the political situation.
The BOJ's nine-member policy board decided to keep the short-term rate at around 0.5 percent, marking the sixth consecutive meeting in which the central bank has stood pat.
In its latest economic outlook released Thursday, the BOJ maintained its projections for Japan's economic growth and the core consumer price index over the next three fiscal years.
The central bank retained the view that its sustainable and stable 2 percent inflation target will be achieved in the latter half of the three-year outlook period through fiscal 2027, a prerequisite for further hikes, according to the report. ■
