Bank of Japan Governor Signals Readiness to Raise Interest Rates 

Raising of interest rates: Bank of Japan Governor Kazuo Ueda emphasised central bank's commitment to justing interest rates in response to changes in inflation trends, particularly if y accelerate towards 2 per cent target. However, he noted that re is no predetermined schedule for rate hikes and timing and pace will depend on evolving economic conditions.

Ueda highlighted importance of maintaining an accommodative monetary policy stance given that trend inflation remains somewhat below 2 per cent target. This suggests that BOJ will continue with its ultra-loose monetary policy for time being.

His statements precede BOJ's upcoming policy meeting, where it is expected to keep interest rates unchanged and release new quarterly growth and inflation forecasts. Sources anticipate that BOJ will project inflation to hover around 2 per cent target over next three years, reinforcing expectations of furr interest rate hikes later this year from ir current near-zero levels.

With Reuters Inputs