Deputy Governor of the Bank of Japan: If the market is unstable, the Bank of Japan will not raise interest rates
ChainCatcher News: Bank of Japan Deputy Governor Shinichi Uchida stated that if the financial markets are unstable, the Bank of Japan will not raise the policy interest rate. This was Uchida's first public statement following the historic crash of the Japanese stock market, where he mentioned that recent market trends are "extremely unstable," and the central bank needs to temporarily maintain an accommodative monetary policy.Uchida pointed out that authorities need to monitor any potential impacts of market trends on prices and the overall economy, and the trajectory of Japanese interest rates may change based on these impacts.After Uchida's remarks, the yen quickly fell by 2%, while the Nikkei 225 index and the Topix index rebounded by over 3%.