Bank of Japan Governor Ueda
- BoJ expected to maintain accommodative monetary policy for the time being.
- Accommodative monetary policy likely to underpin the economy.
- Cost-push pressure on inflation dissipating but service prices continue to rise moderately.
- Recent wage negotiation data, hearing on companies confirmed wage-inflation cycle strengthening
- Medium, long-term inflation expectations heading toward 2%
- BOJ will support economy, prices by maintaining accommodative monetary conditions for time being
- We could have waited until inflation stays at 2% for long time, before exiting massive stimulus but that could have led to sharp increase in upside risk to price outlook
Don't think our latest decision will lead to sharp increase in mortgage loan rates, cost of corporate
USD/JPY has dropped and is dropping a little further on Ueda:
