BOJ’s Uchida says “we have overcome the zero lower bound”

Deputy governor of the Bank of Japan Shinichi Uchida

• We still have a big challenge to anchor the inflation expectations to
  2%, the end of our battle is in sight
• Says ‘this time is
  different’
• We have overcome the
  zero lower bound
• We returned to a
  conventional monetary policy framework, aiming at a 2% price
  stability target through adjustments of the short-term policy rate,
  which means we have overcome the zero lower bound
• Labour market
  conditions have changed structurally and irreversibly
• Not so clear if Japan has overcome deflationary norm

• The main driving force for these developments and long-waited
  structural changes is labour shortages

Uchida making convincing sounds but he is still expressing some wariness that its “Not so clear if Japan has overcome deflationary norm”.

Earlier:

• Bank of Japan Governor Ueda says some challenges are uniquely difficult for the Bank

Over the weekend (Suzuki and Ueda in this post):

• Yen traders heads up – Japan finance minister Suzuki denies bilateral meeting with Yellen

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