BOJ committed to more rate hikes, weak yen key in assessing inflation risk

TOKYO - Bank of Japan Governor Kazuo Ueda on Friday vowed further rate hikes given upward inflation risks, citing the possibility of "speeding up" the pace of increases, after the bank kept its benchmark rate unchanged at 1.0 percent following an increase to a 31-year-high in June.

Ueda said that the recent weakening of the yen against the U.S. dollar will be among the "important" factors, along with the Middle East situation and the increase in artificial intelligence-linked demand, when the bank considers the pace and timing of its monetary policy adjustments.