With Ueda warning of growing international uncertainty, BOJ holds cautiously

key takeaways

• The Bank of Japan (BOJ) held rates steady on Wednesday, 19 March, but Governor Ueda Kazuo warned of the need to weigh both positive domestic indicators and growing uncertainty about US trade policy and its impact on Japan and the global economy.
• The BOJ is still inclined to increase short-term rates gradually but is leaving itself room to adjust the timing and pace in response to risks emerging from overseas.