BOJ governor Ueda: Need to patiently continue monetary easing to support the economy

  • The uncertainty remains very high on the economy, prices
  • Will not hesitate to ease policy further if needed
  • Decision today is aimed at making YCC more sustainable
  • Long-term rates could move beyond 0.50% cap
  • BOJ will step in if rates exceed 1% mark

These are mostly token remarks by Ueda, as he just reaffirms the step that the central bank has taken today. USD/JPY is keeping a decent bounce though in the last hour, coming back up to be up 0.1% at 139.58 currently. The low earlier touched 138.05 after the BOJ policy decision.

This article was written by Justin Low at Source