BoJ Gov Ueda says Japan’s inflation is rising – will make appropriate policy decision

Bank of Japan Governor Ueda

  • Japan’s trend inflation heightening, will make appropriate monetary
    policy decision
  • Service prices
    continue to rise moderately
  • Expects positive
    cycle to strengthen in which tight labour market leads to higher
    wages, household income
  • Desirable for fx to
    move stably reflecting fundamentals
  • Won’t comment on fx
  • Fx rates move on
    various factors
  • A
    1% rise in interest rates will lead to 40 trln yen worth of valuation
    loss on BOJ’s JGB holdings

USD/JPY has taken a wee hit on the Ueda’s remarks:

This article was written by Eamonn Sheridan at Source