BOJ Officials Saw Need to Watch U.S. Policies at Dec. Meeting
Tokyo, Jan. 29 (Jiji Press)--Many Bank of Japan policymakers last month agreed to wait to see economic policies by U.S. President Donald Trump before raising interest rates, minutes of their December meeting released on Wednesday showed.
Many members of the central bank's Policy Board pointed to "high uncertainties surrounding the policy conduct of the incoming U.S. administration," the minutes of the Dec. 18-19 meeting showed.
The minutes quoted one board member as saying that the BOJ "would likely decide to raise the policy interest rate in the near future, but, at this point, it was necessary for the bank to be patient and monitor the uncertainties over the U.S. economy until those uncertainties subsided."
At a meeting last week, the board voted to raise the policy rate by 0.25 percentage point to around 0.5 pct. BOJ Governor Kazuo Ueda told a press conference after the meeting that financial markets have been stable since Trump took office on Jan. 20.
The minutes of the December meeting showed that one board member expressed optimism about an outlook for wage growth. The member said fairly high wage increases would be more likely achieved in this year's "shunto" spring labor talks, according to the minutes.
(2025/01/29-14:38)
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