The BOJ’s more hawkish tone from their rate hike caused a turmoil in markets at the start of August. Deputy governor Uchida then tried to calm the mood by saying that they won’t raise rates so long as markets are unstable. That caused a bit of a stir as markets took that to possibly mean he is not sharing the same view as governor Ueda.
Uchida did of course quickly came out to clarify that here. And we’re seeing Ueda try to bury the hatchet with the above remark. In any case, I think the number one goal now is to not create any unwanted shocks or surprises in markets. So, Ueda has definitely played his part today in the parliamentary hearing.
This article was written by Justin Low at www.forexlive.com. Source