BOJ Governor Ueda expects Japanese economy to rebound post-Q1 contraction and maintains interest rate rise plan.

BOJ Governor Ueda signals that the Japanese economy's poor start to the year will not push the central bank off its path of raising interest rates, as a rebound is anticipated. The economic contraction in Q1 was mainly due to output suspensions in the car sector and Ueda expects the situation to improve. Despite the growth drop, there is no change in the overall picture for a recovery, according to Ueda.

May 23, 2024
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