- BOJ’s Uchida: Must continue to support the economy with current powerful monetary easing
Market news
BOJ’s Uchida: Must continue to support the economy with current powerful monetary easing
The Bank of Japan (BOJ) “must continue to support the economy with current powerful monetary easing,” Shinichi Uchida, the central bank’s Executive Director of Monetary Policy said in his appearance on Tuesday.
Additional comments
BOJ's ultra-easy monetary policy has pushed up economy, prices.
Must continue to support the economy with current powerful monetary easing.
Japan is still in the midst of recovering from the pandemic's impact.
Japan is recently under pressure for rising commodity prices.
No plan to change 50bp band set around 10-year JGB target.
Recent sharp yen moves are undesirable as they make it difficult for firms to set business plans.
Market reaction
USD/JPY is trading around 130.00, pressured by the risk-off market, as growth and inflation fears dominate so far this week.
The spot is down 0.17% on the day, as US Treasury yields also pullback from multi-year highs.
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