Bank of Japan Governor Kazuo Ueda, a year into his tenure, has outlined the central bank's approach toward its economic policies and the potential issuance of a Central Bank Digital Currency (CBDC). Ueda highlighted the fairly good economic conditions of the last fiscal year and emphasized the importance of issuing a CBDC in a manner that benefits the public, without committing to a specific timeline. He mentioned that overseas events and decisions regarding CBDCs in other countries could inform Japan's decision-making process. Ueda also stated the bank's intention to maintain accommodative monetary conditions until trend inflation meets the 2% target, acknowledging some weaknesses in Japan's economy but anticipating a moderate recovery, solid wage growth, and a gradual increase in consumption. Furthermore, Ueda noted the bank's shift to a simpler monetary stimulus framework and its readiness to adjust policies in response to economic changes, with no preset idea on when or how to adjust interest rate levels. He expects interest rates to remain low and real interest rates to stay deeply negative, emphasizing that unloading BOJ's ETF holdings won't happen immediately. The governor plans to give a semi-annual report in the Diet and has expressed that future economic projections will guide the potential reduction of monetary stimulus, including bond purchases, but remains uncertain about the timing or amount.
π΄ BOJ'S GOVERNOR UEDA: THERE IS NO NEED TO RAISE RATES ON EXCESS RESERVES LIKE IN THE US.
π΄ BOJ'S GOVERNOR UEDA: ANOTHER FACTOR WE WILL CHECK IS WHETHER SERVICE PRICES WILL RISE REFLECTING HIGHER WAGES.
π΄ BOJ'S GOVERNOR UEDA: ONE FACTOR WE WILL CHECK IS WHETHER PAY HIKES OFFERED IN ANNUAL WAGE TALKS WILL MATERIALISE AND SHOW IN ACTUAL DATA.
BOJ GOV UEDA: IF WAGE-INFLATION CYCLE ACCELERATES FASTER THAN EXPECTED, WE MIGHT NEED TO REDUCE STIMULUS AT A FASTER THAN EXPECTED PACE
BOJ GOV UEDA: IF WAGES DO NOT RISE AS MUCH AS EXPECTED OR IF OVERSEAS SHOCKS HIT ECONOMY, WE MAY NEED TO REDUCE STIMULUS AT A SLOWER PACE, OR HOLD OFF ON REDUCING STIMULUS ALTOGETHER
BOJ GOV UEDA: ANOTHER FACTOR WE WILL CHECK IS WHETHER SERVICE PRICES WILL RISE REFLECTING HIGHER WAGES
BOJ GOV UEDA: ONE FACTOR WE WILL CHECK IS WHETHER PAY HIKES OFFERED IN ANNUAL WAGE TALKS WILL MATERIALISE, SHOW IN ACTUAL DATA
π΄ BOJ GOVERNOR UEDA: UNLOADING BOJ'S ETF HOLDINGS WON'T HAPPEN IMMEDIATELY
π΄ BOJ GOVERNOR UEDA ANTICIPATES REDUCING BOND PURCHASES BUT UNCERTAIN OF TIMING OR AMOUNT
BOJ GOVERNOR UEDA: EVEN AFTER MARCH POLICY SHIFT, EXPECT INTEREST RATES TO STAY LOW, REAL INTEREST RATES TO REMAIN AT DEEPLY NEGATIVE TERRITORY
π΄ BOJ GOVERNOR UEDA EXPECTS INTEREST RATES TO REMAIN LOW FOLLOWING MARCH POLICY SHIFT, REAL INTEREST RATES TO STAY DEEPLY NEGATIVE
BOJ GOVERNOR UEDA: BOJ EXPECTS ACCOMODATIVE MONETARY CONDITIONS TO CONTINUE FOR TIME BEING
π΄ BOJ GOVERNOR UEDA HAS NO PRESET IDEA ON WHEN OR HOW TO ADJUST INTEREST RATE LEVELS
π΄ BOJ GOVERNOR UEDA SAYS UPCOMING DATA WILL DETERMINE IF THIS WILL HAPPEN
π΄ BOJ GOVERNOR UEDA PROPOSES REDUCING MONETARY STIMULUS IF ECONOMIC PROJECTIONS ARE MET
π΄ BOJ GOVERNOR UEDA STRESSES NEED TO MAINTAIN ACCOMMODATIVE MONETARY CONDITIONS AS TREND INFLATION HAS NOT YET HIT 2% TARGET
#BOJ UEDA EXPECTS ACCOMMODATIVE MONETARY CONDITIONS TO CONTINUE FOR TIME BEING Narrator: and yet so many donβt understand why $JPY keeps losing value π https://t.co/t54vxoDJEl
β οΈ BOJ EXPECTS MONETARY CONDITIONS TO STAY ACCOMMODATIVE, SAYS GOVERNOR UEDA Full Story β https://t.co/FowBFrCyx0 https://t.co/QsCp6mQoG2
π΄ BOJ GOVERNOR UEDA EXPECTS TEMPORARY FACTORS AFFECTING CONSUMPTION TO DISSIPATE
π΄ BOJ GOVERNOR UEDA EXPECTS GRADUAL INCREASE IN CONSUMPTION AS WAGES RISE AND HOUSEHOLD INCOME GROWS
π΄ GOVERNOR UEDA OF BOJ: CHANCE OF SOLID WAGE GROWTH HEIGHTENING THIS YEAR
π΄ BOJ GOVERNOR UEDA NOTES SOME WEAKNESS IN JAPAN'S ECONOMY, BUT SEES MODERATE RECOVERY
Central bank watchers have praised how Bank of Japan Gov. Kazuo Ueda navigated its monetary policy toward normalization. But the challenges are only just beginning to emerge, with Japan now entering an era of positive interest rates. https://t.co/XRtweXY3UZ
π΄ BOJ'S GOVERNOR UEDA TO GIVE SEMI-ANNUAL REPORT IN DIET FROM 1 PM TUESDAY.
BOJ'S UEDA TO GIVE SEMI-ANNUAL REPORT IN DIET FROM 1PM TUESDAY
A year into his job, Bank of Japan Governor Kazuo Ueda said he had achieved a goal he set when taking the helm: changing the bank's complex monetary stimulus into a simpler framework https://t.co/atBo6CMgCg
A year into his job, Bank of Japan Governor Kazuo Ueda said he had achieved a goal he set when taking the helm: changing the bank's complex monetary stimulus into a simpler framework . More here:https://t.co/Vko4swyDag
BOJ GOV UEDA: WE WILL RESPOND APPROPRIATELY TO ECONOMIC CHANGES UNDER NEW POLICY FRAMEWORK
BOJ GOV UEDA: RATHER THAN TRYING TO ISSUE CBDC SWIFTLY, I WOULD PRIORITISE ISSUING CBDC IN AN APPROPRIATE WAY THAT BENEFITS THE BROADER PUBLIC
π΄ BOJ GOVERNOR UEDA: NO SPECIFIC TIMING ON JAPAN'S CBDC DECISION
π΄ BOJ GOVERNOR UEDA: OVERSEAS EVENTS COULD INFLUENCE JAPAN'S DECISION ON ISSUING CBDC
π΄ BOJ GOVERNOR UEDA: OTHER COUNTRIES' CBDC DECISIONS COULD INFORM JAPAN'S DECISION-MAKING
π΄ BOJ GOVERNOR UEDA: LAST FISCAL YEAR'S ECONOMIC CONDITIONS WERE FAIRLY GOOD