利上げ、一時休止局面　米関税「不確実性高い」―日銀５月会合

　日銀は１３日、４月３０日、５月１日に開いた金融政策決定会合の主な意見を公表した。政策委員の１人は「米関税政策の展開がある程度落ち着くまでは様子見モードを続けざるを得ない」と言及。また「利上げの一時休止局面になるが、過度な悲観に陥ることなく、柔軟な金融政策運営が求められる」など、世界経済の減速懸念から当面はさらなる金利引き上げを見送るべきだとの意見が複数あった。
　日銀は同会合で、成長率や物価上昇率の見通しを下方修正した。ある委員は「見通しを巡る不確実性は高く、その確度は従来に比べて高くない」と指摘。「米関税政策の着地と企業の対応は流動的で、今後の推移次第で見通しには大きな修正があり得る」との意見もあった。
　一方で、ある委員は「２％の物価目標に向けて上昇してきた基調的な物価上昇率が下方屈折してしまう可能性は小さい」と主張。「見通しは２％の物価目標を実現する姿となっており、利上げしていく方針は不変だ」との見解もあった。（2025/05/13-10:29）

Bank of Japan policymakers, at the central bank's latest policy-setting meeting, found it necessary to delay further interest rate cuts for the time being amid concerns about a global economic slowdown, a summary of the April 30-May 1 meeting showed Tuesday.
   According to the summary, a member of the BOJ's Policy Board said that the central bank "needs to wait and see until developments in the U.S. tariff policy have become somewhat settled."
   While the BOJ "will enter a phase of pausing its policy interest rate hikes," the central bank "should not be too pessimistic" and "will be required to conduct monetary policy in a nimble and more flexible manner," a Policy Board member said.
   One member pointed out that "there are high uncertainties regarding the outlook for economic activity and prices, and the likelihood of realizing the outlook is not as high as before."
   At the policy meeting, the BOJ downgraded its economic growth and inflation forecasts. One member noted that the BOJ's "outlook for economic activity and prices can only be provisional at this point" and that "it could be revised considerably depending on developments."