BoJ’s Ueda: Will guide policy appropriately from standpoint of sustainably, stably achieving price target
“Bank of Japan (BoJ) will guide monetary policy appropriately from the standpoint of sustainably, stably achieving price target,” the central bank Governor Kazuo Ueda said in a speech to a trust association meeting, read by Deputy Governor Shinichi Uchida on his behalf.
Additional comments
Japan's economy recovering moderately although some weak moves seen.
Japan's economy likely to continue growing above potential.
Must be vigilant to market, FX moves and their impact on pan's economy, prices.
Outlook regarding US, overseas economies uncertain.
Financial system remains stable as a whole.
Impact of FX volatility on inflation has increased compared with past.
Financial markets remain unstable.
We must scrutinize market moves with high sense of urgency.
BoJ will scrutinize impact of market moves on Japan's economic and price outlook, risks, and likelihood of achieving price target.
Market reaction
USD/JPY is keeping its offered tone intact below 150.00 following these comments, down 0.17% on the day, as of writing.
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.
