Bank of Japan (BOJ) Governor Kazuo Ueda expressed concerns about significant uncertainties in the global economy, particularly given U.S. President Donald Trump’s tariff policies.
At a press conference following the G20 finance ministers and central bank governors’ meeting in Cape Town, South Africa, Ueda emphasized, “I believe there is still a lot of uncertainty in the current economic landscape.”
Ueda stated, “In addition to tariffs, various policies impact the global economy, financial markets, and Japan’s economic and price conditions,” adding, “We will consider these factors comprehensively when making decisions on monetary policy.”
Ueda noted a shared sentiment among the international delegates regarding the uncertainties in the global economy, including the effects of Trump’s tariffs and various geopolitical risks.
Addressing the recent upward trend in long-term interest rates in the Japanese government bond market, Ueda reiterated his stance from the House of Representatives budget committee meeting on February 21. He indicated that the central bank would be prepared to swiftly implement open market operations to purchase government bonds if long-term rates spike unexpectedly beyond normal fluctuations.
