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.


Source link