Japão Taxa De Juros

The Bank of Japan (BoJ) is adopting a cautious stance amid uncertainty over U.S. tariff policy, according to its April 30–May 1 policy meeting summary. Prolonged high tariffs could prompt Japanese exporters to restructure operations, including shifting production to the U.S. and streamlining supply chains, potentially harming small and medium-sized firms that make up 70% of Japan’s employment. While inflation is projected to stay near the 2% target through fiscal 2027, supported by wage growth and a tight labor market, U.S. tariffs could lower Japan’s economic growth and sentiment, exerting downward pressure on underlying inflation. The central bank sees tariff effects as short-term shocks with limited long-term impact on inflation or potential growth. Nevertheless, it stresses the importance of monitoring risks and uncertainties. If the current economic and price outlook holds, the BoJ plans to continue gradually raising interest rates, while remaining flexible to changing conditions.