Bank of Japan Governor Ueda, in statements to the Asahi Newspaper, has indicated a nuanced approach to monetary policy, highlighting the central bank's responsiveness to foreign exchange movements and their impact on the wage-inflation cycle. Ueda stated that if such movements significantly affect this cycle, the BOJ could adjust its monetary policy accordingly. This stance is part of a broader strategy to maintain accommodative monetary conditions as long as trend inflation remains below 2%. Moreover, Ueda noted that the decision to raise interest rates within the year would depend on incoming data, emphasizing the goal of sustainably achieving a 2% inflation target. The governor also mentioned that there are no current signs of extreme overheating in Japan's property market but stressed the importance of being mindful of risks. Additionally, Ueda reassured that there is no plan to change the BOJ's 2% inflation target for the time being and highlighted the central bank's goal to prevent inflation from deviating sharply from this target over a prolonged period.
BOJ'S UEDA: OUR GOAL IS TO PREVENT INFLATION FROM DEVIATING SHARPLY FROM OUR 2% TARGET FOR A PROLONGED PERIOD, RATHER THAN TO RIGIDLY ACHIEVE 2% INFLATION AT ALL TIMES -ASAHI
BOJ'S UEDA: NO PLAN TO CHANGE OUR 2% INFLATION TARGET FOR TIME BEING -ASAHI
BOJ'S UEDA: DON'T SEE EXTREME SIGNS OF OVER-HEATING IN JAPAN'S PROPERTY MARKET BUT WE ARE ALWAYS MINDFUL OF RISKS -ASAHI
🇯🇵 BoJ GOVERNOR UEDA ON THE WIRES: https://t.co/vJzUviYj9s
BOJ'S UEDA: AS LONG AS TREND INFLATION IS BELOW 2%, IT IS NECESSARY TO MAINTAIN ACCOMMODATIVE MONETARY CONDITIONS -ASAHI
BOJ'S UEDA: IF RISK OF TREND INFLATION EXCEEDING 2% HEIGHTENS TO DEGREE THAT CANNOT BE IGNORED, THAT WILL BE REASON TO ADJUST INTEREST RATES, BUT LIKELIHOOD OF THIS HAPPENING NOT BIG FOR NOW -ASAHI
BOJ'S UEDA: NO NEED TO CHANGE VIEW JAPAN'S ECONOMY RECOVERING MODERATELY AS A TREND -ASAHI
BOJ'S UEDA: IF FX MOVES APPEAR TO HAVE IMPACT ON WAGE-INFLATION CYCLE IN A WAY THAT IS HARD TO IGNORE, WE COULD RESPOND VIA MONETARY POLICY - ASAHI
BOJ'S UEDA: IF WE BECOME MORE CONVINCED THAT TREND INFLATION WILL APPROACH 2%, THAT WILL BE ONE REASON TO ADJUST INTEREST RATES -ASAHI
BOJ'S UEDA: WHETHER TO RAISE INTEREST RATES AGAIN THIS YEAR WILL BE DEPENDENT ON DATA -ASAHI NEWSPAPER
🔴 BOJ'S GOVERNOR UEDA: IF FX MOVES APPEAR TO HAVE AN IMPACT ON WAGE-INFLATION CYCLE IN A WAY THAT IS HARD TO IGNORE, WE COULD RESPOND VIA MONETARY POLICY - ASAHI.
🔴 BOJ'S GOVERNOR UEDA: WHETHER TO RAISE INTEREST RATES AGAIN THIS YEAR WILL BE DEPENDENT ON DATA - ASAHI NEWSPAPER.
🔴 BOJ'S GOVERNOR UEDA: THE BOJ WILL ADJUST THE LEVEL OF INTEREST RATES IN ACCORDANCE TO DISTANCE TOWARDS SUSTAINABLY, STABLY ACHIEVING 2% INFLATION - ASAHI.
BOJ'S UEDA: BOJ WILL ADJUST LEVEL OF INTEREST RATES IN ACCORDANCE TO DISTANCE TOWARDS SUSTAINABLY, STABLY ACHIEVING 2% INFLATION -ASAHI
BOJ GOVERNOR UEDA: CHANCE OF SUSTAINABLY, STABLY ACHIEVING BOJ'S 2% INFLATION TARGET IS IN SIGHT, LIKELY TO KEEP HEIGHTENING -ASAHI NEWSPAPER
🔴 BOJ'S GOVERNOR UEDA: THE CHANCE OF SUSTAINABLY, STABLY ACHIEVING BOJ'S 2% INFLATION TARGET IS IN SIGHT, LIKELY TO KEEP HEIGHTENING - ASAHI NEWSPAPER.
"lower interest rates do not necessarily improve housing affordability." https://t.co/23qXsoPknP
🇯🇵 The Bank of Japan (BOJ) is likely to allow cash circulation to continue to slow after it last month abandoned a commitment to keep increasing monetary base until inflation stably exceeds its 2% inflation target, analysts say. https://t.co/T4DBWMMNzK
The Bank of Japan will probably take its time before raising interest rates again, with October likely being the earliest it might move next, according to a former BOJ official. https://t.co/EiXOGihUY5