BoJ’s Ueda: Could consider policy change when achievement of 2% inflation is in sight
Bank of Japan (BOJ) Governor Kazuo Ueda is addressing the post-September policy meeting press conference on Friday, noting that they “could consider ending yield curve control and modify negative interest rate policy when we judge the achievement of 2% inflation is in sight.”
Additional quotes
Today we discussed that inflation's rate of deceleration has been slower than in the July outlook report.
Seeing US Fed stance to keep rates high.
We are seeing continued contraction in Japan's real wages with 'concern'.
Not in situation now to decide on order of change in policy tools.
My comments reported by Yomiuri were not made because my sense of distance towards ending NIRP had changed.
Short-term interest rates will be kept until achievement of price target.
Need to bear in mind possibility of fed rate hikes again.
There was discussion that corporate profits are strong, which is good for wage talks next year.
Short-term interest rates will be kept until achievement of price target.
Need to bear in mind possibility of fed rate hikes again.
There was discussion that corporate profits are strong, which is good for wage talks next year.
No comment on short-term interest rate, FX moves.
Important for currencies to move stably reflecting fundamentals.
Will coordinate closely with govt to monitor FX market, impact on economy.
Japan's consumption is on gradual recovery overall.
We are gradually moving to world where companies can change prices along with other companies.
Sustainability of wage hikes is the most important element to judge sustainability of inflation.
Market reaction
USD/JPY was last seen trading at 148.36, up 0.53% 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.
