Bank of Japan Governor Ueda:
- Japan’s economy recovering moderately albeit with some weaknesses
- Japan’s economy likely to continue growing above potential
- Expect underlying inflation to accelerate gradually
- Uncertainty surrounding Japan’s economy, prices remains high
- Expect to keep raising interest rates if economy, prices move in line with our forecasts made in quarterly outlook report
- Japan’s real interest rate level remains extremely low
I’m not sure where Ueda is speaking from. I don’t see anything here from him that is a departure from what he has said before though.
We all pretty much know that the BoJ will be hiking if “economy, prices move in line with forecasts”.
This article was written by Eamonn Sheridan at www.forexlive.com.