New Bank of Japan (BoJ) Governor, Kazuo Ueda, said on Monday that they want to avoid a sudden normalisation in monetary policy as it would cause a big impact on markets, as reported by Reuters.

Key takeaways

"We will debate all policy options at every monetary policy meeting."

"Fully aware that global economy is slowing and further slowdown is expected."

"Positive signs are emerging in prices."

"Very possible to reach sustainable price target as wage growth strengthens."

"Will do utmost to achieve inflation target during my term while paying attention to side effects."

"Will aim to explain each policy move in plain language."

"Need to make appropriate decision before reaching that stage."

Market reaction

USD/JPY edges higher following these comments and was last seen gaining 0.3% on the day at 132.55.