BoJ Gov Ueda again: July rate hike was done under accommodative conditions

Earlier from Bank of Japan Governor Ueda:

More:

  • Hard to promise when and in what form we can disclose Japan’s
    estimated neutral rate
    if we can sufficiently narrow down
    estimated neutral rate, we must disclose our findings to public,
    media, markets
  • Will narrow down
    range of expected neutral rate while monitoring how higher interest
    rates affect economy
    July rate hike was done under accommodative
    conditions
  • Japan’s current
    short-term rate, at 0.25%, is still below the bottom range of what is
    estimated to be Japan’s neutral rate
  • Not planning to dispose of the BoJ’s ETF assets but when we do, we will aim to avoid causing market disruption and sell at appropriate prices

USD/JPY is near its session low around 145.47.

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