Bank of Japan Governor Ueda:
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I have no predefined idea on the timing and pace of future rate hikes.
- If trend inflation accelerates in line with our forecasts, we will adjust the degree of monetary support by increasing interest rates.
- If our price forecast changes, this will also be a reason to change policy.
- Future monetary policy directions will depend on developments in the economy, prices and the market at that time.
- Said nothing new on BoJ policy last week in Washington
- Trend inflation is still slightly below 2%, so it is necessary to maintain accommodative monetary conditions for the time being.
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If geopolitical risks and weak domestic demand cause market disruptions, the BOJ will respond by providing flexible and agile liquidity.
Nothing in this lot above is surprising. Ueda keeps his options open.
This article was written by Eamonn Sheridan at www.forexlive.com.
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