Bank of Japan Governor Ueda

  • We have made progress in moving away from zero and lifting inflation expectations, but we must now re-anchor them, this time at the 2% target
  • BoJ will proceed cautiously, as do other central banks with inflation-targeting frameworks
  • While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us
  • The absence of significant interest rate movements poses a considerable obstacle in assessing the economy's response to changes in interest rates

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Nothing of immediate relevance for traders here. No hints on what's to come at the Bank's June meeting. there are some expectations of another interest rate rise, and/or further trimming of Japanese Government Bond purchases. With yields on the rise in Japan it argues against the Bnk trimming JGB purchases.

BOJ Kazuo Ueda