Bank of Japan's Governor Ueda stated that prices are expected to fluctuate around the target in the second half of the outlook span. Ueda mentioned that a rate hike would be justified if upside risks intensify and that rates would be raised if prices move towards the target. Monetary easing from JGB buying's stock effect will continue while bond holdings are reduced. Ueda also highlighted the impact of currency swings on prices, the attention to the yen's impact on prices, and the adjustment of rates if underlying inflation approaches 2%. Import prices are rising due to a weak yen, and Ueda noted the gradual strengthening of Japan's consumption as wages rise and inflation subsides. Short-term rates will be the main policy tool, and data on underlying inflation rate align with their view.
BOJ GOV UEDA: DATA REGARDING UNDERLYING INFLATION RATE SO FAR LARGELY ALIGN WITH OUR VIEW
⚠️ BOJ GOV UEDA: WILL USE SHORT-TERM RATES AS MAIN POLICY TOOL
⚠️ BOJ GOV UEDA: IMPORT PRICES ARE SHOWING SIGNS OF RISING AGAIN PARTLY DUE TO WEAK YEN
BOJ'S GOVERNOR UEDA: WE ARE WATCHING IF COST-PUSH INFLATION IS COMING BACK.
⚠️ BOJ GOV UEDA: KEEPS VIEW THAT JAPAN'S CONSUMPTION TURNS STRONGER AS WAGES GRADUALLY RISE, INFLATION SUBSIDES
BOJ governor Ueda: Will adjust rates if underlying inflation rises towards 2% target https://t.co/rlZkrLPI69
⚠️ BOJ GOV UEDA: **WILL ADJUST RATES IF UNDERLYING INFLATION RISES TOWARD 2%, BUT CANNOT COMMENT NOW WHEN THAT WILL BECOME EVIDENT **DON'T THINK WE CAN REACH THE STATE OF JGB HOLDINGS THAT IS DESIRABLE IN LONG-TERM IN A YEAR
BOJ'S GOVERNOR UEDA: WE WILL ADJUST RATES IF UNDERLYING INFLATION RISES TOWARD 2%, BUT CANNOT COMMENT NOW WHEN THAT WILL BECOME EVIDENT.
⚠️ BOJ GOV UEDA: **CONCEIVABLE TO ADJUST RATES EARLIER IF PRICE OUTLOOK IS REVISED UP OR IF UPSIDE RISKS HEIGHTEN **EVERY DAY WE ARE CHECKING FX MOVES, SUSTAINABILITY OF THE MOVES, IMPACT ON DOMESTIC PRICES, WAGES
BOJ'S GOVERNOR UEDA: A RATE HIKE IS JUSTIFIED IF UPSIDE RISKS INTENSIFY.
BOJ'S GOVERNOR UEDA: IT'S CONCEIVABLE TO ADJUST RATES EARLIER IF PRICE OUTLOOK IS REVISED UP OR IF UPSIDE RISKS HEIGHTEN.
⚠️ BOJ GOV UEDA: MONETARY EASING FROM JGB BUYING'S STOCK EFFECT WILL CONTINUE TO WORK WHILE WE REDUCE BOND HOLDINGS
BOJ'S GOVERNOR UEDA: WE WILL RAISE RATES IF PRICES RISE TOWARDS THE TARGET.
⚠️ BOJ GOV UEDA: CURRENCY SWINGS HAVE LARGER IMPACT ON PRICES NOW
🇯🇵 #BOJ'S UEDA: SIZE OF CUT IN BOND BUYING TO BE SUBSTANTIAL - BBG
BOJ'S GOVERNOR UEDA: WE ARE PAYING CLOSE ATTENTION TO THE YEN'S IMPACT ON PRICES.
BOJ'S GOVERNOR UEDA: PRICES ARE TO MOVE AROUND THE TARGET IN THE 2ND HALF OF THE OUTLOOK SPAN.