BOJ’s Ueda says the weak yen has positives and negatives

More again from Bank of Japan Governor Ueda, this time on the JPY:

• Cannot say decisively that weak yen is negative for Japan’s economy
• Weak yen pushes up
  domestic inflation via rise in import costs
• Weak yen is positive
  for exports, profits of globally operating Japanese firms
• Won’t comment on FX levels

Ueda has been very vociferous today:

• Bank of Japan Governor Ueda says Japan’s economy is recovering moderately
• More from BOJ’s Ueda on conditions for ending YCC and negative rates

• More from BOJ’s Ueda: BOJ does not have specific plan yet on how it will sell ETFs

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