Bank of Japan Governor Ueda
more to come
- Recent high inflation due largely to lagged effect of past rises in import costs, recent acceleration in food price rises
- Such cost-push factors likely to gradually dissipate
- Underlying inflation likely to gradually converge towards our 2% target even when temporary boost from food inflation disappears
- There is uncertainty on whether food, rice prices will fall but on year-on-year basis, pace of increase likely to slow ahead
- Underlying inflation is still somewhat below 2%
- We have yet to sufficiently achieve our price target
Ueda was on the wires earlier:
JPY is showing a touch of weakness on these latest remarks from ueda:
This article was written by Eamonn Sheridan at www.forexlive.com.