Bank of Japan Governor Ueda recently highlighted the country's economic conditions last fiscal year as fairly good, while addressing the potential issuance of a Central Bank Digital Currency (CBDC). Ueda noted that overseas events and decisions by other countries on CBDCs could influence Japan's stance on issuing its own digital currency, emphasizing there is no specific timing for Japan's CBDC decision. Meanwhile, the Japanese yen faces significant pressure, with investors placing the most substantial bets against it in 17 years, just as it teeters near a key level that could increase the risk of intervention from Japan to stabilize its currency. Ueda also stated the importance of issuing a CBDC in a way that benefits the public and mentioned that Japan's economic policy would adapt appropriately to economic changes under a new framework.
JAPAN FORMER TOP FX OFFICIAL NAKAO: RECENT SPECULATIVE YEN WEAKENING, IF MOVES ARE RAPID ENOUGH, COULD TRIGGER INTERVENTON AT ANY MOMENT
Short positions against the $JPY are now piling up π @Barchart https://t.co/P7o8rp2Yq1 https://t.co/ox6hmNhqYl
π―π΅ #Japan | Bets Against #Yen at Highest in 17 Years as Test of 152 Looms - Bloomberg https://t.co/N1NXSE4Ocx https://t.co/pdY78rDnv5
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
Investors have piled on the most wagers for the yen to fall in 17 years, just as it teeters near a key level that would increase the risk of intervention from Japan https://t.co/TzvfDe50NG
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