Ueda: Spring wage talks crucial for BOJ inflation outlook
BOJ Governor Ueda highlighted spring wage talks for FY2027 as key for inflation trends, and said policy will not be swayed by board changes.
The Federal Reserve raised rates by 25 basis points to 3.75-4%, citing resilient spending and strong productivity, aiming for price stability.
The Federal Open Market Committee voted unanimously, 12–0, to approve the following statement for release:
In support of the Federal Reserve's dual mandate, the Committee decided to lift the target range for the federal funds rate by 1/4 percentage point, bringing it to 3-3/4 to 4 percent. The Committee continues to pursue its policy of ensuring ample reserves in the banking system.
Economic activity continues to grow at a solid pace. Although uncertainty remains elevated, partly due to geopolitical developments, domestic spending has remained resilient. Productivity growth is strong, and capital investment is robust. Job gains have kept pace with the workforce, and the unemployment rate has remained little changed.
Inflation is still high. This policy action is intended to support a more timely return to the Committee's 2 percent inflation goal, as the Committee works to achieve price stability.
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BOJ Governor Ueda highlighted spring wage talks for FY2027 as key for inflation trends, and said policy will not be swayed by board changes.
BOJ Governor Ueda stated the bank will continue to raise rates in response to economic and price developments, noting inflation overshooting risks.
UK retail sales rose 0.5% in August, exceeding expectations, as department stores and non-store retailers recovered.
UK August retail sales rose 0.5% month-on-month, beating expectations for a 0.2% decline.