Bank of Japan Governor Ueda: Wage talks not the only determinant of monetary policy

More from Bank of Japan Governor Ueda:

  • Annual wage negotiations have been, and always will be, among
    important economic variables we look at in setting policy
  • We decide on policy
    looking not just at wage talks, but various other economic variables
  • We decided to change
    policy in March because strong wage talk outcome came on top of
    fairly solid readings in other sectors of economy
  • Whether we will set
    policy with same emphasis on wage talk outcome will depend on
    conditions at the time
  • Its hard to say beforehand how long the BOJ should wait in gathering enough data to change policy
  • We would like to leave some scope for adjustment by not pre-committing to a certain policy too much
  • Our basic stance is that we will look at moves in trend inflation to achieve our price goal, and take a data-dependent approach in setting policy

Seems to be waffling a bit.

Earlier from Ueda:

USD/JPY is down a few pips on the session:

This article was written by Eamonn Sheridan at Source