Bank of Japan (BOJ) Governor Kazuo Ueda is speaking at his first post-policy meeting conference on Friday, noting that it is “appropriate to continue monetary easing to achieve 2% inflation target in tandem with wage growth.”
Additional quotes
Won't hesitate to ease monetary policy further if necessary,
Reorganized forward guidance given changes in govt's COVID-19 classification, lower the risk of pandemic's impact on economy, markets,
Decided to conduct a broad-perspective review of monetary policy to deepen understanding of past policy conducts, gain informative insights for future policy.
'Review' is not aimed at conducting specific policy measures or changes in future.
We can hope for stable, sustainable inflation to take hold.
No idea what kind of policy our review will lead to.
Review of monetary policy will also include input from external members.
Policy review period of 1 to 1-1/2 years does not mean there will be no policy change during that time.
Will make changes to monetary policy as needed during the review period.
May announce results of policy review in the interim if needed.
Does not warrant no policy change during 1 to 1.5-year 'review' as policy shifts should be carried out if necessary.
A policy shift could happen in next 1.5 years since chance of underlying inflation rate reaching 2% is 'not zero'.
Monetary easing in past 25 years were effective to some extent, but not successful enough in terms of achieving 2% inflation target.
Market reaction
In reaction to the above comments, USD/JPY is extending the rally toward 136.00, currently trading 1.18% higher on the day at 135.50.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
USD/JPY briefly recaptures 160.00, then pulls back sharply
Having briefly recaptured 160.00, USD/JPY pulls back sharply toward 159.00 on potential Japanese FX intervention risks. The Yen tumbles amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
AUD/USD extends gains above 0.6550 on risk flows, hawkish RBA expectations
AUD/USD extends gains above 0.6550 in the Asian session on Monday. The Aussie pair is underpinned by increased bets of an RBA rate hike at its May policy meeting after the previous week's hot Australian CPI data. Risk flows also power the pair's upside.
Gold stays weak below $2,350 amid risk-on mood, firmer USD
Gold price trades on a softer note below $2,350 early Monday. The recent US economic data showed that US inflationary pressures stayed firm, supporting the US Dollar at the expense of Gold price. The upbeat mood also adds to the weight on the bright metal.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.