[This is how I imagine Bank of Japan Governor Kazuo Ueda thinks about critics who believe he will be compelled to raise interest rates in the near future.]
 
I don't understand why many major players in the financial markets are still telling their clients and the press that I will raise interest rates during the coming months, even though I've repeatedly declared that I will not. As I said, "The cost of waiting to ensure inflation is sustainably at 2% is smaller than shifting policy prematurely." Critics believe that events beyond my control in terms of inflation and market turmoil will force my hand. They felt the same thing regarding my predecessor last fall. They were wrong then and they're wrong now. I've firmly repeated the message and the tide of opinion is changing to the belief that I can and will sustain my policy. As I said, we will wait and see what the data tells us.
 
For details, see https://richardkatz.substack.com/p/reading-the-mind-of-boj-chief-ueda

Richard Katz