Economists Expect Bank of Japan to Hold Rates at October Meeting

Economists generally expect the Bank of Japan to keep policy unchanged at its meeting ending Oct. 30, as Gov. Kazuo Ueda reiterated a gradual approach to rate increases and monetary easing.

Ueda said the central bank would adjust its policy rate and the degree of monetary easing in response to economic activity, prices and financial conditions. He said officials would weigh risks and the likelihood of their economic and price outlooks before deciding the timing and pace of changes.

His remarks suggested Ueda saw no need to shift the market’s near-term expectation, while leaving room for a rate increase after October.