Bank of Japan Governor Ueda:

  • Trend inflation yet to reach 2%, so need to support economy's momentum toward hitting 2% by maintaining accommodative monetary conditions
  • Want to scrutinise whether trend inflation will indeed head toward 2% in judging appropriate degree of monetary support
  • Waiting to exit until trend inflation hits 2% would have heightened risk of inflation overshoot, force us to hike rates aggressively


Bank of Japan Governor Ueda 16 February 2024 2

USD/JPY has lost a few points since that linked post, above.