- BoJ’s Ueda: To continue QQE until achievement of inflation target.
Market news
6 June 2023
BoJ’s Ueda: To continue QQE until achievement of inflation target.
"The Bank of Japan (BoJ) will continue QQE until the achievement of the inflation target," the central bank Governor Kazuo Ueda said on Tuesday.
Additional quotes
Inflation expectations have remained low because of prolonged zero inflation and deflation.
Inflation and inflation expectations are heightening.
Japan is gradually seeing change in norm under which the public acts on assumption that wage and inflation will stay low.
Changes are emerging gradually to deflationary mindset that prices and wages are hard to rise.
When inflation target is achieved, inflation expectations would also be at 2%.
Market reaction
At the press time, USD/JPY is trading close to 139.50, down 0.09% on the day.
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