Bank of Japan Governor Ueda:

  • don't see yen moves as having a big impact on trend inflation so far but there is risk impact could become significant in the future
  • BOJ won't necessarily wait until inflation achieves our forecasts in 1.5 to 2 years to raise interest rates
  • If trend inflation moves as we project, we will adjust degree of monetary support accordingly
  • Inflationary pressure driven by positive wage-price cycle is strengthening

Suzuki and Ueda have both been taking today:

USD/JPY to a new session high above 155:

usdyen ueda suzuki 08 May 2024 2