BoJ’s Ueda: Will scrutinize the wage talk outcome and other data in making policy decision
Following the Japanese wage hike outcome, Bank of Japan (BoJ) Governor Kazuo Ueda is out on the wires, noting that “we will scrutinize the wage talk outcome, as well as other data and information from our hearings, in making policy decisions.”
Additional quotes
We will consider tweaking negative rate, YCC and other monetary easing tools if sustained achievement of our price target comes into sight.
We must scrutinisz whether positive wage-inflation cycle emerges, in deciding whether conditions for phasing out stimulus are falling into place.
This year's wage negotiation is critical in deciding timing on exit from stimulus.
Unions have demanded higher pay, we are seeing many corporate management making offers that will stream in today and beyond.
Market reaction
USD/JPY keeps its recovery mode intact on Ueda’s comments, currently trading flat at 147.66.
Japanese Yen price today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.01% | 0.02% | 0.03% | -0.04% | 0.07% | -0.20% | 0.04% | |
| EUR | 0.00% | 0.01% | 0.03% | -0.04% | 0.06% | -0.22% | 0.04% | |
| GBP | -0.02% | -0.01% | 0.02% | -0.05% | 0.05% | -0.23% | 0.03% | |
| CAD | -0.04% | -0.03% | -0.01% | -0.08% | 0.03% | -0.23% | 0.01% | |
| AUD | 0.04% | 0.04% | 0.05% | 0.08% | 0.10% | -0.18% | 0.05% | |
| JPY | -0.07% | -0.03% | -0.04% | -0.03% | -0.07% | -0.28% | -0.02% | |
| NZD | 0.20% | 0.22% | 0.23% | 0.24% | 0.18% | 0.28% | 0.26% | |
| CHF | -0.06% | -0.04% | -0.03% | -0.03% | -0.06% | 0.02% | -0.26% |
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 Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (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.
