Boj Governor Ueda said the financial environmental environment needs to be maintained in order to support the economy

Bank of Japan (BOJ) Governor Kazuo Ueda Said this Friday The central bank must maintain a financial policy policy to support economic growth and ensure that the underlying inflation is gradually moving to the target of 2%.

UEDA told Parliament that the recent increase in the consumer price index above the 2% target was led by cost-pushing factors such as high food prices and fuel that were likely to disappear.

Comments came a week after the bank raised the benchmark borrowing cost to 0.5%, the highest in more than 16 years, and could ensure fears of a risk led by Yen in global markets, including Cryptocurrencies, as observed in August.

The governor, however, maintains that increases in rate will continue if the economy is emerging as expected. According to Forexlive, entrepreneurs see the next BOJ rate increase in July.