BoJ Gov Ueda again: July rate hike was done under accommodative conditions

August 23, 2024 at 03:03AM
Earlier from Bank of Japan Governor Ueda:

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

More:

Hard to promise when and in what form we can disclose Japan’s
estimated neutral rate
if we can sufficiently narrow down
estimated neutral rate, we must disclose our findings to public,
media, markets

Will narrow down
range of expected neutral rate while monitoring how higher interest
rates affect economy
July rate hike was done under accommodative
conditions

Japan’s current
short-term rate, at 0.25%, is still below the bottom range of what is
estimated to be Japan’s neutral rate

Not planning to dispose of the BoJ’s ETF assets but when we do, we will aim to avoid causing market disruption and sell at appropriate prices

USD/JPY is near its session low around 145.47.

This article was written by Eamonn Sheridan at www.forexlive.com.

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