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Bank of Japan's Governor Ueda has emphasized the central bank's commitment to continue easing monetary policy until Japan's price target is achieved, with the likelihood of reaching the target gradually increasing towards FY2025. Ueda noted that Japan's economy is gradually picking up and that sustainable and stable inflation is not yet within sufficient confidence, although the BOJ still seeks more data to confirm the trend. He acknowledged the impact of the foreign exchange market on prices, indicated that cost-push inflation appears to be peaking, and mentioned that food price inflation has passed its peak. Ueda highlighted the importance of examining wage trends and their impact on price inflation, stating that the wage-inflation cycle is rising as expected and that service inflation is rising in Japan. He also pointed out that while the prospect of achieving the price target is gradually heightening, the BOJ is not in a position to predict a policy shift or rate hike at the next meeting. Furthermore, Japan's Finance Minister Suzuki commented on the country's fiscal health, noting a decrease in the overall budget for the first time in 12 years as a step toward fiscal health, despite Japan's fiscal situation remaining severe. The BOJ is examining changes in companies' wage and price-setting behavior, and Ueda has noted a change in companies' medium to long-term price outlook, with a focus on whether clear wage hikes will continue in the next year's wage negotiations.
UEDA SEES SERVICE INFLATION RISING IN JAPAN BOJ GOVERNOR UEDA CONSIDERS CHANGING MONETARY POLICY IF POSITIVE WAGE-INFLATION CYCLE STRENGTHENS AND HEIGHTENS PROSPECTS OF SUSTAINABLY ACHIEVING PRICE TARGET.
BOJ's Ueda signals chance of policy shift, progress on price goal https://t.co/WF8ufSjdnW https://t.co/BRT0taJ6il
β οΈ BOJ'S UEDA SIGNALS CHANCE OF POLICY SHIFT, PROGRESS ON PRICE GOAL Full Story β https://t.co/M2OqNQCGXP
π΄ BOJ GOVERNOR UEDA TO EXAMINE ECONOMIC DEVELOPMENTS FOR SUSTAINABLE PRICE TARGETS
π΄ BOJ GOVERNOR UEDA: BOJ MAINTAINS MONETARY EASING TO ENSURE SUSTAINABILITY OF FIRMS' WAGE AND PRICE-SETTING BEHAVIOR
π΄ BOJ GOVERNOR UEDA: HIGH NOMINAL RATES POSSIBLE IN SUSTAINED POSITIVE INFLATION ECONOMY, ENABLING SHARP INTEREST RATE CUTS WHEN NEEDED.
π΄ BOJ GOVERNOR UEDA: CANNOT PRE-SET TIMING OF FUTURE POLICY CHANGE, WILL SCRUTINIZE ECONOMIC DEVELOPMENTS AND WAGE/PRICE BEHAVIOR
π΄ BOJ GOVERNOR UEDA CONSIDERS CHANGING MONETARY POLICY IF POSITIVE WAGE-INFLATION CYCLE STRENGTHENS AND HEIGHTENS PROSPECTS OF SUSTAINABLY ACHIEVING PRICE TARGET.
π΄ BOJ GOVERNOR UEDA ON COMPANIES' ABILITY TO REFLECT LABOR COST INCREASE IN PRICES
π΄ BOJ GOVERNOR UEDA: KEY POINT IS WHETHER CLEAR WAGE HIKES WILL CONTINUE IN NEXT YEAR'S ANNUAL WAGE NEGOTIATIONS
π΄ BOJ GOVERNOR UEDA TO EXAMINE CHANGES IN COMPANIES' WAGE AND PRICE-SETTING BEHAVIOR.
π΄ BOJ GOVERNOR UEDA: PROSPECT OF ACHIEVING PRICE TARGET NOT HIGH ENOUGH
π΄ BOJ GOVERNOR UEDA NOTES CHANGE IN COMPANIES' MEDIUM TO LONG-TERM PRICE OUTLOOK
π΄ BOJ GOVERNOR UEDA HOPES FOR JAPAN TO ACHIEVE POSITIVE WAGE-INFLATION CYCLE AND EMERGE FROM LOW-INFLATION ENVIRONMENT
π΄ BOJ GOVERNOR UEDA NOTES GRADUAL EASING OF UPWARD PRESSURE FROM PAST IMPORT PRICE HIKES
π΄ BOJ GOVERNOR UEDA SAYS PROSPECT OF ACHIEVING PRICE TARGET GRADUALLY HEIGHTENING
π΄ JAPAN'S FINANCE MINISTER SUZUKI: JAPAN'S FISCAL SITUATION STILL REMAINS SEVERE.
π΄ JAPAN'S FINANCE MINISTER SUZUKI: A DECREASE IN THE OVERALL BUDGET IS A STEP TOWARD FISCAL HEALTH.
β οΈ JAPAN CUTS SPENDING FOR FIRST TIME IN 12 YEARS IN 2024/25 BUDGET Full Story β https://t.co/H4smdet3ye
π΄ BOJ'S GOVERNOR UEDA: THE CHANCES ARE LOW THAT WE WILL FLAG A RATE HIKE AT THE NEXT MEETING.
π΄ BOJ'S GOVERNOR UEDA: THERE IS ITTLE CHANCE FOR US TO SAY "WE WILL CHANGE POLICY NEXT MONTH".
π΄ BOJ'S GOVERNOR UEDA: NEGATIVE REAL WAGES ARE NOT AN OBSTACLE FOR A POLICY SHIFT IF THE WAGE OUTLOOK POINTS TO POSITIVE REAL WAGES AHEAD.
π΄ BOJ'S GOVERNOR UEDA: RISING VOICES FOR NORMALISATION MAY BE A SIGN THAT DEMAND-DRIVEN INFLATION IS BECOMING MORE EVIDENT.
π΄ BOJ'S GOVERNOR UEDA: IT'S DIFFICULT TO PRESENT FIRM PICTURE ON EXIT.
π΄ BOJ'S GOVERNOR UEDA: IT SHOULD BE POSSIBLE FOR THE MARKET TO FORECAST OUR POLICY SHIFT, AT LEAST TO SOME EXTENT.
π΄ BOJ'S GOVERNOR UEDA: WE WANT TO LOOK AT DATA INCLUDING WAGE TRENDS SO FAR, FUTURE WAGE MOVES AND IMPACT ON PRICE INFLATION.
π΄ BOJ'S GOVERNOR UEDA: THE LIKELIHOOD OF ACHIEVING THE INFLATION TARGET IS SLIGHTLY HIGHER BUT WE WANT TO LOOK AT MORE DATA.
π΄ BOJ'S GOVERNOR UEDA: DATA SUGGESTS THAT COST-PUSH INFLATION IS PEAKING.
π΄ BOJ'S GOVERNOR UEDA: THE WAGE-INFLATION CYCLE IS RISING AS EXPECTED.
π΄ BOJ'S GOVERNOR UEDA: WE ARE STILL NOT IN A SITUATION TO FORESEE SUSTAINABLE AND STABLE INFLATION WITH SUFFICIENT CONFIDENCE.
π΄ BOJ'S GOVERNOR UEDA: FOOD PRICE INFLATION IS FINALLY PAST THE PEAK.
β οΈ BOJ GOVERNOR UEDA'S COMMENTS AT NEWS CONFERENCE Full Story β https://t.co/oU7sKPluoh https://t.co/1t13orsj9k
π΄ BOJ'S GOVERNOR UEDA: WE WILL CONTINUE EASING UNTIL WE HIT THE PRICE TARGET.
π΄ BOJ'S GOVERNOR UEDA: JAPAN'S ECONOMY IS GRADUALLY PICKING UP.
π΄ BOJ'S GOVERNOR UEDA: WE ARE PAYING DUE ATTENTION TO FX MARKET IMPACT ON PRICES.
π΄ BOJ'S GOVERNOR UEDA: THE LIKELIHOOD IS RISING THAT THE UNDERLYING INFLATION RATE WILL GRADUALLY INCREASE TOWARD TARGET THROUGH FY2025.
π΄ BOJ'S GOVERNOR UEDA: WE STILL NEED TO GAUGE WHETHER PRICES WILL RISE AHEAD.
β οΈ BOJ TO FOCUS ON JAPAN'S PROGRESS IN HITTING PRICE GOAL Full Story β https://t.co/FMCWcTDdLv https://t.co/YAFQ0PPW7q