BOJ Governor Highlights Benefits of Higher Rates, But Reiterates Pledge to Continue Easing
• BOJ Governor Ueda pointed out benefits of higher interest rates under normal economic conditions, while reiterating pledge to continue monetary easing
• Ueda said positive inflation provides more room for policy responses to downturns, benefiting firms' business plans
• Ueda joins deputy in highlighting benefits of world without negative rates, including better net interest income
• Ueda optimistic wages and prices can achieve virtuous cycle this time, escaping low-inflation trap
• Ueda said key is if wage rises continue markedly in next year's talks; initial result comes in March, driving rate hike expectations