▲ Bank of Japan (BoJ) Governor Kazuo Ueda reaffirmed his decision to raise interest rates if inflation in the world’s third-largest economy remains on track to sustainably reach the 2 percent target, although he warned that financial markets remain unstable. Official data on Friday showed that inflation in Japan accelerated in July to 2.7 percent, in line with expectations. In early August, the BoJ signaled the possibility of raising rates, which pushed up the value of the yen, and together with fears of a recession in the United States, caused the biggest loss in stock markets since the start of the covid pandemic.