Bank of Japan Governor Ueda says real rates likely remain negative

More from Bank of Japan Governor Ueda, speaking extensively in the Diet today:

• By keeping current monetary policy stance, will move closer to
  achieving price target
• Decided at July MPM
  that adjusting degree of monetary easing appropriate from standpoint
  of stably, sustainably achieving price target
• Real rates likely
  remain negative, easy financial conditions will keep supporting
  economy

• Fx rate determined by various factors
• Weak yen since 2022
  comes as market participants focused on rate differentials between us
  and Japan
• Important for
  currencies to move in stable manner reflecting fundamentals
• Wage growth momentum
  is spreading to overall economy but there are some disparities among
  firms

Earlier from Ueda and fin min Suzuki:

• BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
• BoJ Ueda will adjust monetary easing if our economy price outlook is likely to be achieved

• Bank of Japan Governor Ueda says BOJ’s policy steps were appropriate
• Japan fin min Suzuki says intervention action taken as excess volatility not desirable

• Bank of Japan Governor Ueda says the monetary policy path remains highly uncertain

• Bank of Japan Governor Ueda says FX moves could effect the Bank’s forecasts

• BoJ Gov Ueda again: July rate hike was done under accommodative conditions
• Japan finance minister Suzuki: Can’t tell whether strong yen has bigger demerits or merits

USD/JPY fell away while all this was going on this morning in Tokyo. Its around 145.50 now.

This article was written by Eamonn Sheridan at www.forexlive.com. Source