Kazuo Ueda, Governor of the Bank of Japan, convened a regular meeting with Prime Minister Shigeru Ishiba to discuss the economy and financial market before next week’s meeting with the Group of 20 (G20).
On Thursday, Ueda told reporters after meeting with Ishiba at his office that the two have only exchanged views on financial and economic developments, and he said that he was also allowed to meet with the prime minister just before he attends the G7 and G20 meetings next week.
This meeting between the two is the first time since Ishiba took office in October. Ueda’s description of Thursday’s meeting as a part of standard protocol suggests that there weren’t any pressing issues prompting the gathering, which is often a topic of market speculation.
When asked by reporters, Ueda said that the long-term interest rate was not part of the talk. Recently, the policy rate for 10-year bond yields has been surging and hit its highest level since 2009 on Thursday as traders predicted a rate hike.
Last month, the BOJ increased interest rates to 0.5%, marking the third rate hike within a year. The bank stated that it will continue to raise rates if its economic projections are met.
