Bank of Japan Governor Ueda, more comments from him. This time on the JPY!

  • We won't change monetary policy just to deal directly with fx moves
  • We might need to change monetary policy if fx moves lead not just to rising import prices, but risk pushing up trend inflation more than expected
  • We want the Japanese Government Bond (JGB) market to eventually return to a state where yields are set by market prices
  • We are now observing how the markets absorb the March policy shift, after which we hope to begin reducing the size of our JGB buying
collapse yen jpy 10 April 2024

Earlier from the Gov: