The Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday that the Japanese economy is recovering moderately despite weak signs.

Key quotes

Japan’s economy recovering moderately despite weak signs.

Will increase interest rates upon realization of strong economic outlook.

To increasingly raise policy rate to adjust monetary support in line with economic and price forecasts.

Monitoring effects of various risks on economic outlook.

Sees moderate increase in private consumption trend.

Maintains stance to support economic activity.

Sees rise in income in both corporate and household sectors.

Gradually adjusting monetary support will help achieve price target through sustained economic growth.

Must monitor various risks, including US economy.