The Bank of Japan deputy governor said policy on interest rates is based on a careful assessment of economic data from both overseas and at home.
Himino Ryozo explained that the information used by the BOJ to set monetary policy “is constantly evolving.”
He added that US employment and consumption figures as well as consumption in China may deserve more attention than before.
He said the impact of 2024 wage hikes in Japan is also assessed as well as data related to upcoming 2025 wage negotiations. But he stressed the bank looks at the totality of the metrics meeting-by-meeting.
Himino Ryozo said: “The policy board will carefully assess incoming data, the evolving outlook, and the balance of risks at each meeting. We are not on a preset course.”
Himino’s comments are in line with those of BOJ Governor Ueda Kazuo. He has also indicated the central bank examines a broad range of economic indicators and prices when setting monetary policy.