August 23, 2024 at 04:20AM
More from Bank of Japan Governor Ueda, speaking extensively in the Diet today:
By keeping current monetary policy stance, will move closer to
achieving price target
Decided at July MPM
that adjusting degree of monetary easing appropriate from standpoint
of stably, sustainably achieving price target
Real rates likely
remain negative, easy financial conditions will keep supporting
economy
Fx rate determined by various factors
Weak yen since 2022
comes as market participants focused on rate differentials between us
and Japan
Important for
currencies to move in stable manner reflecting fundamentals
Wage growth momentum
is spreading to overall economy but there are some disparities among
firms
Earlier from Ueda and fin min Suzuki:
BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
BoJ Ueda will adjust monetary easing if our economy price outlook is likely to be achieved
Bank of Japan Governor Ueda says BOJ’s policy steps were appropriate
Japan fin min Suzuki says intervention action taken as excess volatility not desirable
Bank of Japan Governor Ueda says the monetary policy path remains highly uncertain
Bank of Japan Governor Ueda says FX moves could effect the Bank’s forecasts
BoJ Gov Ueda again: July rate hike was done under accommodative conditions
Japan finance minister Suzuki: Can’t tell whether strong yen has bigger demerits or merits
USD/JPY fell away while all this was going on this morning in Tokyo. Its around 145.50 now.
This article was written by Eamonn Sheridan at www.forexlive.com.
