BOJ Won't Raise Rates When Markets Are Unstable, Deputy Governor Says

By Megumi Fujikawa

Bank of Japan Deputy Gov. Shinichi Uchida said Wednesday the bank won't raise interest rates when markets are unstable.

"In contrast to the process of policy interest rate hikes in Europe and the United States, Japan's economy is not in a situation where the bank may fall behind the curve if it does not raise the policy interest rate at a certain pace," Uchida said in a speech to business leaders in the northern island of Hokkaido.

The deputy governor said recent developments in markets have been "extremely volatile."

Write to Megumi Fujikawa at [e-mail]

(END) Dow Jones Newswires

08-06-24 2208ET