Bank of Japan Governor Kazuo Ueda stated on Friday during a press conference following the policy decision that the nation's monetary authorities must place greater emphasis than before on upside risks to prices.

He indicated that in-depth discussions are anticipated at the next policy meeting and subsequent sessions. The BOJ's next policy decision is scheduled for release on September 18.

The governor emphasized that ensuring inflation trends remain stable around the 2% target level is crucial. While interest rate adjustments take time to influence the economy, market rates have already increased since the rate hike last month.

Price trends are now approaching the 2% target.