BoJ’s Ueda: To continue QQE until achievement of inflation target

Dhwani Mehta FXStreet

"The Bank of Japan (BoJ) will continue QQE until the achievement of the inflation target," the central bank Governor Kazuo Ueda said on Tuesday.

Additional quotes

Inflation expectations have remained low because of prolonged zero inflation and deflation.

Inflation and inflation expectations are heightening.

Japan is gradually seeing change in norm under which the public acts on assumption that wage and inflation will stay low.

Changes are emerging gradually to deflationary mindset that prices and wages are hard to rise.

When inflation target is achieved, inflation expectations would also be at 2%.

Market reaction

At the press time, USD/JPY is trading close to 139.50, down 0.09% 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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