More from Bank of Japan Governor Ueda – important for wages to keep rising

Bank of Japan Governor Ueda:

• BOJ to work closely with govt while monitoring currency, financial
  market moves
• Service
  spending increasing moderately as a trend
• What’s
  important from here is for wages to keep rising and underpin
  consumption

Ueda hasn’t stopped talking. Earlier:

• BOJ Gov Ueda: Accommodative financial conditions, stimulus is supporting Japan’s economy
• BOJ Gov Ueda says Japan’s situation will become even more challenging in 2024

• BOJ Gov Ueda on what on target inflation means to him, includes wage growth above 2%

While Ueda has given no indication of a timing of exit from loose policy, indeed even saying its still too early talk about a simulation study given the trend he sees for inflation is for it below 2%, the very fact that he is talking what will happ[en when exit occurs ahs been enough to see yen rally on the session.

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