TOKYO: Bank of Japan Governor Kazuo Ueda said Thursday that the outcome of the central bank’s next monetary policy meeting on Dec. 18-19 is “unpredictable.”

“There is still a month to go, and a huge amount of data will be available by then,” Ueda said at an event at the French ambassador’s official residence in Tokyo. “At each meeting, we will make a decision based on data available by then,” he stressed.

Attention is paid to whether the BOJ will decide on another interest rate hike at the upcoming meeting.

Regarding the impact of possible fiscal expansionary measures under the incoming administration of U.S. President-elect Donald Trump, the BOJ chief said, “As soon as the new administration announces its policies, we will scrutinize them and reflect them in our economic outlook.”

Referring to the yen’s weakening trend, he said, “In formulating our economic and price outlook, we fully take into account foreign exchange fluctuations, including what’s behind them.”

Asked how deteriorating public finances could affect the BOJ’s monetary policy, Ueda said, “It is important for the government to monitor fiscal sustainability in the medium term.”

JIJI Press