Bank of Japan Governor Kazuo Ueda has confirmed that inflation rates in Japan remain on track towards the bank’s 2% target. Kazuo, however, warned that global uncertainties may discourage firms from raising wages, leaving the timing of the central bank’s next rate hike unclear. Shotaro Mori, senior economist at SBI Shinsei Bank, revealed that if the tariff impact intensifies, hard data on Japan’s third-quarter economic growth and corporate profits would be more decisive than Governor Ueda’s latest speech. Ueda says inflation is likely to increase, keeping the market guessingThe Osaka address followed the release of the BOJ’s Tankan survey earlier this week. The BOJ ended its decade-long stimulus program last year and raised interest rates to 0.5% in January, marking its first hike in years.