Category: Forex News

BoJ Governor Ueda says expects to maintain accommodative monetary policy for time being

Bank of Japan Governor Ueda

  • BoJ expected to maintain accommodative monetary policy for the time being.
  • Accommodative monetary policy likely to underpin the economy.
  • Cost-push pressure on inflation dissipating but service prices continue to rise moderately.
  • Recent wage negotiation data, hearing on companies confirmed
    wage-inflation cycle strengthening
  • Medium, long-term
    inflation expectations heading toward 2%
  • BOJ will support
    economy, prices by maintaining accommodative monetary conditions for
    time being
  • We could have waited
    until inflation stays at 2% for long time, before exiting massive
    stimulus but that could have led to sharp increase in upside risk to
    price outlook

USD/JPY has dropped and is dropping a little further on Ueda:

This article was written by Eamonn Sheridan at www.forexlive.com.


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