BOJ’s Ueda: More firms have decided on wage hikes this year compared to last year

  • Uncertainty is still high about how widespread wage hikes will be
  • But it is not as high as uncertainty seen last year
  • Can’t deny side effects to negative interest rate policy
  • Will foresee further rate hikes when exiting negative interest rate policy

You can sense the change in the tone here as compared to his previous press conferences. He need not come out so aggressively to tout the progress ahead of the spring wage negotiations but he is choosing to do so. And that is sending a message to markets and traders are listening. USD/JPY now down 0.7% on the day to 147.10.

This article was written by Justin Low at www.forexlive.com. Source