# BOJ’s Ueda vows to keep raising rates and anchor inflation around 2% target
!Image 1: BOJ’s Ueda vows to keep raising rates and anchor inflation around 2% target
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3. BOJ’s Ueda vows to keep raising rates and anchor inflation around 2% target
Global inflation pressure meets a key BOJ meeting
Many at the BOJ prefer to wait in October
> Bank of Japan Governor Kazuo Ueda said the central bank will keep raising interest rates and focus on anchoring underlying inflation around its 2% target. The BOJ may face pressure to hike faster as global inflationary pressures build, while many in the BOJ reportedly prefer to wait at the October meeting.
Bank of Japan Governor Kazuo Ueda said on Friday the central bank will focus on anchoring underlying inflation around its 2% target and won't tolerate any overshoot. He stressed anew the bank's resolve to continue raising interest rates.
According to Ueda: "we cannot tolerate inflation from accelerating further", he told a news conference in Bangkok. He added that domestic data and talks with global policymakers at this week's IMF meetings suggested economic and price developments were moving roughly in line with the BOJ's projections.
## Global inflation pressure meets a key BOJ meeting
The remarks came ahead of the BOJ's policy meeting later this month, where the board will produce fresh quarterly growth and inflation forecasts. Those forecasts will be scrutinised for clues on the pace and timing of future rate hikes.
The BOJ may face renewed pressure to increase the pace of hikes amid global inflationary pressures from the Iran war and an AI-driven demand shock, which dominated discussions at the IMF meetings. Ueda said more policymakers saw global AI demand as somewhat stronger than the BOJ had expected.
