BOJ’s Adachi: Japan is still half-way to achieving the central bank’s price target

Dhwani Mehta FXStreet

Bank of Japan (BOJ) board member Seiji Adachi said in a statement on Thursday, “Japan is still halfway to achieving BOJ's price target.”

Additional quotes

See a bigger chance of inflationary pressures in Japan increasing.

Japan's service spending showing signs of improvement.

Japan's exports rising as a trend.

Japan's economy picking up as a trend.

There is rising risk that drop in China's output, caused in part by its zero-covid policy, may lead to serious global supply constraints.

Such risks from China may be temporary if covid infections subside, China’s output recovers.

Must be mindful of risk US Monetary tightening could lead to major slowdown in its economy, cause global asset price adjustments.

We must not forget that strong yen was among the factors that led to Japan's prolonged period of deflation and economic stagnation.

Market reaction

USD/JPY is unfazed by these above comments, currently trading at 130.03, down 0.04% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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