More from Bank of Japan Governor Ueda: Aware of the impact of weak yen on firm earnings

Bank of Japan Governor Ueda spoke earlier:

Bank of Japan Governor Ueda speech, full text. Patiently maintaining monetary easing.

More now:

  • BOJ recognizes that impact of rising raw material costs, weak yen on
    earnings vary for each sector, company size
  • Policy prescription
    to deal with inflation would vary depending on factor behind price
  • We have supported
    economy with easy monetary policy since cost-push inflation that we
    have seen so far hurts japan firms, households
  • Want to continue
    carefully weighing benefits, cost of our policy

Ueda is under pressure on the weak yen. While its basically sitting on its year’s low against the USD (not far from it) the lingering threat of intervention and comments from Ueda himself have held it in its tightest monthly range in over a year and a half.

This article was written by Eamonn Sheridan at Source