What to know

• BOJ Governor Ueda indicated the central bank will account for upside inflation risks in its policy decision, fueling market bets on a September rate hike.
• The statement comes amid signals from U.S. Treasury Secretary Bessent about the need for action on price pressures.
• The BOJ's next policy meeting is scheduled for later this month.

Kazuo Ueda Bank of Japan GovernorScott Bessent U.S. Treasury Secretary