Absence of data will reduce Fed's excessive reliance on data dependence: Georgetown's Paul McCulley

It is my great pleasure to have the opportunity today to exchange views with a distinguished gathering of business leaders in the Kansai region. I would like to take this chance to express my sincerest gratitude for your cooperation with the activities of the Bank of Japan's branches in Osaka, Kobe, and Kyoto. When I visited this region last year, I had the opportunity to tour the construction site of Expo 2025 Osaka, Kansai. Since then, I have wished for the Expo's success, and since its opening this April, I have been delighted to see it thriving every day, welcoming over 22 million general visitors from Japan and abroad. I would like to express my sincere respect to everyone whose efforts made this possible. Today, I look forward to hearing your candid opinions, which will be useful in the Bank's policy decisions and business operations. Before hearing from you, I would like to talk about developments in Japan's economic activity and prices and explain the Bank's thinking on the conduct of monetary policy BOJ Governor Ueda Signals Further Rate Hikes if Outlook Holds BOJ’s Ueda: No Preconceptions in Assessing If Economy, Prices Match Forecast BoJ's Governor Ueda: must uphold accommodative monetary environment, support economy BOJ’s Ueda: Japan’s Growth to Slow Before Rebounding with Global Recovery