BOJ still on hawkish track despite dovish bid to cool market turmoil

Central bank must improve communication, economy judgment and risk assessment

Avatar
20240809 Ueda

Bank of Japan Gov. Kazuo Ueda speaks at a press conference following a monetary policy meeting on July 31. (Photo by Yutaka Miyaguchi)

Masamichi Adachi is chief economist for Japan at UBS Securities Japan.

The market turmoil following the Bank of Japan's unexpected rate hike on July 31 left many observers wondering whether the central bank made a blunder like it did in 2000 and 2006-2007. It's already gained the moniker of "Ueda shock."

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.