Bank of Japan Deputy Governor: Bank of Japan will not raise interest rates if market is unstable

BlockBeats reported that on August 7, Shinichi Uchida, deputy governor of the Bank of Japan, said that the Bank of Japan would not raise its policy interest rate if financial markets were unstable.

In his first public speech since the historic collapse of the Japanese stock market, Uchida said that recent market trends were "extremely unstable" and the central bank needed to maintain an accommodative monetary policy for the time being. Uchida pointed out that the authorities need to monitor any potential impact of market trends on prices and the overall economy, and the trend of Japanese interest rates may change based on this impact.

After Uchida made these remarks, the yen's decline quickly widened to 2%, and the Nikkei 225 Index and the Topix Index rebounded by more than 3%. (Jinshi)