Bank of Japan (BOJ) Governor Kazuo Ueda announced that the central bank must maintain accommodative monetary policies to support economic growth and achieve a 2% inflation target. Ueda stated that recent inflation increases were largely driven by temporary factors such as high food and fuel prices and are likely to decrease. The comments may alleviate concerns about a potential market downturn, including in the cryptocurrency sector. However, Ueda also mentioned that rate hikes will continue if the economy progresses as expected, with the next one potentially occurring in July according to traders.



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