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- BoJ’s Ueda highlights “a bit below” inflation to defend current monetary easing framework
BoJ’s Ueda highlights “a bit below” inflation to defend current monetary easing framework
“We think that underlying inflation is still a bit below our target,” said Bank of Japan (BoJ) Governor Governor Kazuo Ueda said at a Federal Reserve research symposium on Saturday per Reuters.
The policymaker added, “This is why we are sticking with our current monetary easing framework."
BoJ’s Ueda conveyed expectations of witnessing a decline in inflation from here while also stating that the underlying trend still less than the target.
BoJ’ Ueda also cited a healthy trend in the domestic demand and record high profits that bolstered the business fixed-investment to flag the inflation fears.
USD/JPY grinds higher
Even if the USD/JPY is yet to react to the news, due to the wait for Monday’s Tokyo open, the Yen pair stays on the front foot around 146.45 after refreshing the Year-To-Date (YTD) high the previous day.
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