We have no intention of forcefully raising the policy rate only to make room for future rate cuts when improvement in economic and price conditions is not anticipated,” Ueda

Bank of Japan Governor Kazuo Ueda said on Tuesday the central bank will raise interest rates once economic and price growth re-acceleration becomes imminent.

"We will adjust the degree of monetary easing as needed” to ensure that the bank achieves its sustainable price goal if incoming data give authorities greater confidence that their economic expectations will be met, Ueda said in a speech at an international conference hosted by the BOJ in Tokyo on Tuesday.