BoJ’s Ueda: Central bank will patiently maintain easy monetary policy
|Bank of Japan (BoJ)Governor Kazuo Ueda said on Tuesday, “ the BoJ will patiently maintain the easy monetary policy as there is still a distance to go to stable 2% inflation.”
Additional comments
Have not reached sustainable 2% inflation.
Inflation to slow a greatly around the middle of fiscal year 2023.
Inflation likely to bounce back thereafter on wage growth, other factors but there is uncertainty on that outlook.
BoJ will continue with bond buying operations.
Market reaction
USD/JPY is teasing 140.00 despite the dovish comments from the BoJ Chief. The spot is down 0.42% on the day, extending correction from near 141.00.
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