Odaily Planet Daily reports: Bank of Japan Governor Kazuo Ueda said on Tuesday, “We will continue to gradually raise the policy rate and adjust the degree of monetary easing in line with developments in economic activity, prices and financial conditions. We will consider the timing and pace of adjustments after assessing the risks and the likelihood of our baseline outlook for the economy and prices materializing.” Ueda made these remarks as economists broadly expect the BOJ to leave its current policy unchanged at its next policy meeting, which ends on October 30.

Ueda reiterated the BOJ’s policy stance and economic assessment, signaling that he sees no need to reverse market expectations, while also leaving room for rate hikes after October. Overnight index swap pricing shows investors see about a 12% chance of a BOJ rate hike this month; factoring in the December meeting, the probability rises to about 90%. (Sina Finance)