Bank of Japan Governor Ueda:
- don’t see yen moves as having a big impact on trend inflation so far but there is risk impact could become significant in the future
-
BOJ won’t necessarily wait until inflation achieves our forecasts in
1.5 to 2 years to raise interest rates - If trend inflation
moves as we project, we will adjust degree of monetary support
accordingly - Inflationary pressure driven by positive wage-price cycle is strengthening
Suzuki and Ueda have both been taking today:
- Yen falls deeper in the hole. FinMin Suzuki keeps on digging: “No comment on intervention”
- Bank of Japan Governor Ueda says monetary policy does not seek to control forex rates
- Japan finance minister Suzuki says he is watching FX movement with a sense of urgency
USD/JPY to a new session high above 155:
This article was written by Eamonn Sheridan at www.forexlive.com. Source