Bank of Japan (BOJ) Governor Kazuo Ueda is making his scheduled appearance on Friday, commenting on the economic, inflation and policy outloo
Bank of Japan (BOJ) Governor Kazuo Ueda is making his scheduled appearance on Friday, commenting on the economic, inflation and policy outlook.
Key quotes
Japan’s economy recovering moderately.
Exports, output moving sideways.
Consumption increasing steadily, albeit at moderate pace.
Japan’s economy likely to continue moderate recovery.
Inflation likely to narrow pace of rise, then re-accelerate reflecting changes in corporate wage-, price-setting behaviour.
Uncertainty surrounding Japan’s economy very high.
Must carefully watch financial, FX market moves and their impact on Japan’s economy, prices.
BoJ will aim at stably, sustainably achieving 2% inflation target, accompanied by wage growth, by patiently maintaining current easy policy.
Japan’s financial system maintaining stability as a whole.
Market reaction
Following the above remarks, USD/JPY is closing in on the key 150.00 intervention level, adding 0.11% on the day.
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