Bank of Japan Governor Ueda confirms the strengthening of the wage-inflation cycle with recent wage negotiation data. Inflation target is approaching 2%, and the BoJ is expected to maintain accommodative monetary policy to support the economy. Ueda cautions against waiting for sustained 2% inflation before ending stimulus. He also notes that service prices continue to rise moderately despite the dissipation of cost-push pressure on inflation. The BoJ Governor plans to gradually shrink the balance sheet and cut JGB purchases as stimulus ends, with no immediate plans to sell ETF holdings.
BOJ MINUTES: SOME MEMBERS SAID UPSIDE RISKS OF INFLATION GREATLY OVERSHOOTING 2% TARGET HAVE BECOME SMALL
BOJ MINUTES: MEMBERS SHARED THE VIEW THAT CHANCES OF ACHIEVING 2% INFLATION RISING GRADUALLY, SO IF WE CAN CONFIRM VIRTUOUS CYCLE OF WAGES AND INFLATION, WE WOULD CONSIDER ENDING NEGATIVE RATES AND OTHER UNCONVENTIONAL EASING STEPS
π΄ BOJ MINUTES SHOW MEMBERS VIEW INCREASING CHANCES OF ACHIEVING 2% INFLATION GRADUALLY; CONFIRMATION OF VIRTUOUS CYCLE OF WAGES AND INFLATION WOULD LEAD TO CONSIDERATION OF ENDING NEGATIVE RATES AND OTHER UNCONVENTIONAL EASING STEPS.
π΄ BOJ MINUTES: MEMBERS AGREED LIKELIHOOD OF ACHIEVING INFLATION TARGET SUSTAINABLY NOT REACHED
Not only did the Bank of Japan end YCC, it ended its ETF purchases. The BoJ actually had unrealized πππππ on its ETFs as the stock market soared. Contrast that with all the bond losses for most CBs. Something to be said for a more diversified CB balance sheet. @dandolfaβ¦ https://t.co/iaRLWqqqub https://t.co/8Y5MPLldUS
π΄ BOJ GOVERNOR UEDA EXAMINES OPTIONS TO REDUCE ETF HOLDINGS
π΄ BOJ GOVERNOR UEDA: NO PLANS TO IMMEDIATELY SELL BOJ'S ETF HOLDINGS
π΄ BOJ GOVERNOR UEDA PLANS TO GRADUALLY SHRINK BALANCE SHEET AND CUT JGB PURCHASES AS STIMULUS ENDS
π΄ BOJ GOVERNOR UEDA EXPECTS FINAL WAGE NEGOTIATION OUTCOME TO BE STRONG DESPITE POTENTIAL DOWNWARD REVISION
π΄ BOJ GOVERNOR UEDA CAUTIONS AGAINST WAITING FOR SUSTAINED 2% INFLATION BEFORE ENDING STIMULUS
BoJ Gov Ueda: Medium, Long Term Inflation Expectations Heading Toward 2% - Recent Wage Negotiation Data, Hearing On Companies Confirmed Wage-Inflation Cycle Strengthening
π΄ BOJ GOVERNOR UEDA SUPPORTS ECONOMY AND PRICES BY MAINTAINING ACCOMMODATIVE MONETARY CONDITIONS FOR TIME BEING
π΄ BOJ GOVERNOR UEDA SEES MEDIUM AND LONG-TERM INFLATION EXPECTATIONS MOVING TOWARDS 2%
π΄ BOJ GOVERNOR UEDA CONFIRMS STRENGTHENING OF WAGE-INFLATION CYCLE WITH RECENT WAGE NEGOTIATION DATA AND HEARING ON COMPANIES.
π΄ BOJ GOVERNOR UEDA NOTES SERVICE PRICES CONTINUE TO RISE MODERATELY DESPITE DISSIPATION OF COST-PUSH PRESSURE ON INFLATION
BoJ Gov Ueda: Inflation Target Came Within Sight - BoJ Expected To Maintain Accommodative Monetary Policy For The Time Being - Accommodative Monetary Policy Likely To Underpin Economy
π΄ BOJ GOVERNOR UEDA SAYS ACCOMMODATIVE MONETARY POLICY TO LIKELY SUPPORT ECONOMY
π΄ BOJ GOVERNOR UEDA EXPECTS MAINTAINING ACCOMMODATIVE MONETARY POLICY FOR TIME BEING