- BoJ Gov Nominee Ueda: Appropriate to continue monetary easing from now on as well
Market news
27 February 2023
BoJ Gov Nominee Ueda: Appropriate to continue monetary easing from now on as well
Bank of Japan (BoJ) Governor designate Kazuo Ueda is speaking on Monday, endorsing the central bank’s ultra-loose monetary policy.
Key quotes
“CPI growth will slow below 2% in fiscal 2023.”
“It takes time for CPI to meet the 2% target sustainably and stably.”
“BoJ’s monetary easing causing various side-effects.“
“Appropriate to continue monetary easing from now on as well.”
“BoJ faces difficult situation no matter who becomes governor.”
“Definition of price stability is zero inflation.”
“The more inflation deviates from zero, the larger the cost becomes.”
Market reaction
USD/JPY has come under renewed selling pressure on Ueda’s comments, now losing 0.14% on the day to trade at 136.25.
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