BoJ’s Ueda: Will raise rates if improvement in economy and price conditions continues
Speaking at the Bank of Japan (BoJ) branch manager meeting on Wednesday, Governor Kazuo Ueda said on that they “will raise rates and adjust degree of monetary support if improvement in economy and price conditions continues.”
Additional quotes
Will make a decision next week.
Watching developments in the US economy.
Momentum heading into spring wage negotiations is crucial.
There was a lot of positive talk about wage hikes at the meeting.
Timing of adjusting monetary policy is up to future economic, price, and financial conditions.
Market reaction
The Japanese Yen has picked up fresh bids on these comments, dragging USD/JPY 0.25% lower on the day to near 157.50.
Japanese Yen PRICE Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.03% | 0.03% | -0.27% | -0.03% | -0.06% | -0.11% | -0.04% | |
| EUR | -0.03% | 0.02% | -0.29% | -0.07% | -0.08% | -0.12% | -0.07% | |
| GBP | -0.03% | -0.02% | -0.33% | -0.06% | -0.09% | -0.13% | -0.06% | |
| JPY | 0.27% | 0.29% | 0.33% | 0.26% | 0.22% | 0.18% | 0.25% | |
| CAD | 0.03% | 0.07% | 0.06% | -0.26% | -0.04% | -0.07% | -0.00% | |
| AUD | 0.06% | 0.08% | 0.09% | -0.22% | 0.04% | -0.03% | 0.04% | |
| NZD | 0.11% | 0.12% | 0.13% | -0.18% | 0.07% | 0.03% | 0.07% | |
| CHF | 0.04% | 0.07% | 0.06% | -0.25% | 0.00% | -0.04% | -0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
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.
