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BoJ Uedao: Will maintain current monetary easing
Bank of Japan´s governor Kazuo Ueda has crossed the wires saying that he told the G20 that Japan's core consumer inflation, which is currently around 3%, is likely to fall back below 2% in the second half of this fiscal year.
Key comments
Told G20 counterparts we must be vigilant to risks regarding financial system, including nonbank sector, cross-border impact.
IMF has warned as risk scenario chance of severe global recession but our projection is for global growth to recover after period of slowdown.
IMF has warned as risk scenario chance of severe global recession but our forecast is for global growth to recover after period of slowdown.
Under our view that global economy to recover, we expect Japan's wages to continue rising.
Told G20 BoJ will maintain current monetary easing.
It's been just a week since I became BoJ governor and I am now on a business trip so want to think about it once I fly back to Japan when asked about BoJ's April policy meeting.
Told G20 Japan's core consumer inflation, which is now around 3%, likely to slow back below 2% toward latter half of this fiscal year.
USD/JPY update
The price is testing the 132.70s resistance but on continuous failures, a bearish bias will continue to build for the forthcoming sessions with eyes on a break of trendline support as illustrated above, putting the focus on a break below 132.00 and then 131.50.
More on the technical outlook here:
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USD/JPY bears eye a break of trendline support for a significant downside move
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