Citing people familiar with the matter, Bloomberg reported on Tuesday that Bank of Japan (BoJ) officials see a misinterpretation of Governor Kazuo Ueda’s recent comments delivered in a Yomiuri newspaper interview, in the face of the market reaction.

Key quotes

“Taken in total, his comments indicate little change in the view among officials that they’ll need to weigh both upside and downside risks in deciding whether to adjust policies.”

“BoJ officials also acknowledge that inflation remains strong, requiring them to closely look at upside risks for now.”

Market reaction

USD/JPY remains on the front foot following the above the report, near 147.70. The pair is up 0.08% on the day.