BOJ’s Ueda: More time is needed to meet 2% inflation target

  • Expects inflation to slow towards the middle of fiscal year 2023
  • Japan economy still faces very high uncertainty
  • Will update progress of the review of past policies starting next month
  • Need to pay attention to FX and financial markets

If anything else, this does not sound like someone who is compelled to tweak policy settings even in July. The note about paying attention to the currency market is a slight verbal intervention on the yen but we’ve heard it time and time again already from Japanese officials.

This article was written by Justin Low at Source