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- BoJ’s Ueda: Won't hesitate to take additional easing measures if necessary
BoJ’s Ueda: Won't hesitate to take additional easing measures if necessary
Bank of Japan (BOJ) Governor Kazuo Ueda is speaking at the press conference, held after its December policy meeting on Tuesday.
Key quotes
Japan's economy is gradually picking up.
Must carefully watch financial, FX market moves and impact on Japan's economy, prices.
Won't hesitate to take additional easing measures if necessary.
Still need to gauge whether prices will rise ahead.
Likelihood is rising that underlying inflation rate will gradually increase toward target through FY 2025.
Need to keep scrutinising wage-price virtuous cycle.
We will examine not just data but hearings regarding wage-price virtuous cycle.
Will continue to closely communicate with govt to conduct appropriate monetary policy.
Soft landing expectations for the US economy are rising.
Rising soft landing expectations for the US economy are positive for Japan's economy.
Food price inflation is finally past the peak.
We are still not in situation to foresee sustainable, stable inflation with sufficient confidence
Likelihood of achieving inflation target is slightly higher but we want to look at more data
Want to look at data including wage trends so far, future wage moves and impact on price inflation.
Market reaction
USD/JPY is paring back gains to near 143.30, despite dovish comments from BoJ Governor Ueda. The pair is still up 0.35% on the day.
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