BoJ’s Ueda: Told PM need to check wage, service price outlook

Market news

7 December 2023

BoJ’s Ueda: Told PM need to check wage, service price outlook

Bank of Japan (BoJ) Governor Kazuo Ueda is back on the wires on Thursday, noting that he had a regular exchange of views on economy and financial trends with Prime Minister (PM) Fumio Kishida as he did back in August.

Additional comments

No special demand from PM Kishida.

My explanation on monetary policy to PM Kishida included wage hike outlook next year.

Told PM Kishida, the BoJ hopes to check whether wages will rise sustainably, whether wage rises will push up service prices, and whether demand will be strong.

Market reaction

USD/JPY tumbled to a fresh intraday low of 146.15 following Ueda’s discussion with PM Kishida, currently trading at 146.25. The pair is losing 0.72% on the day.

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