Bank of Japan Governor Ueda:
- Achieving 2% trend inflation can be defined as a state where economy, void of new shocks, can see inflation sustained around 2% and wage growth somewhat above that level
- Would be difficult to choose which monetary policy tools to mobilise when exit from stimulus draws near
Wage growth above the CPI would be good news for Japanese workers, it'd be real wages growing, which has been rare in Japan.
Earlier:
- BOJ Gov Ueda: Accommodative financial conditions, stimulus is supporting Japan's economy
- BOJ Gov Ueda says Japan's situation will become even more challenging in 2024
USD/JPY has dipped as low as circa 146.70 in response to Ueda speaking.
