Bank of Japan – Japan's Economy and Monetary Policy, Nov 2024

The "Japan's Economy and Monetary Policy" speech delivered by Bank of Japan Governor Kazuo Ueda on 18 November 2024 provides an in-depth analysis of the nation's economic conditions and the central bank's policy stance. In this address, Governor Ueda highlighted that Japan's economy is experiencing a moderate recovery, with a notable increase in business fixed investment and a gradual improvement in private consumption. He emphasized the importance of achieving the 2% inflation target sustainably, supported by wage growth and inflation expectations. The speech also addressed the Bank's decision to end negative interest rates in March 2024 and raise the short-term policy rate to 0.25% in July, reflecting progress toward the inflation target. Governor Ueda outlined the Bank's commitment to maintaining accommodative monetary policy to support economic recovery while being vigilant of potential risks, including global economic uncertainties and financial market developments