Bank of Japan Governor Ueda testimony in parliament, read from the bottom up for chronology:
- BOJ's Ueda says the weak yen has positives and negatives
- More from BOJ's Ueda: BOJ does not have specific plan yet on how it will sell ETFs
- More from BOJ's Ueda on conditions for ending YCC and negative rates
- Japan's Deputy Finance Minister Akazawa promises JPY intervention if excess volatility
- Bank of Japan Governor Ueda says Japan's economy is recovering moderately
Other
- European Central Bank President Lagarde heads a long list of speakers due Friday
- Australia scraps AUD 11.6bn of infrastructure projects amid worker shortages and inflation
- Bank of England Ramsden keynote address, Greene panel discus on monetary policy outlook
- PBOC sets USD/ CNY reference rate for today at 7.1728 (vs. estimate at 7.2473)
- ANZ change their RBNZ forecast - do not expect further interest rate hikes
- Navigating economic uncertainty: UBS Global Wealth Management's insights for 2024
- Singapore non-oil domestic exports (NODX) +3.4% m/m in October (expected +1.5%)
- ICYMI - Three Fed officials see case for 'considerable Fed balance sheet decline'
- UK Chancellor plans to unlock billions from pension funds to drive economic growth
- CHF traders heads up: Swiss National Bank Chair Thomas Jordan is speaking over the weekend
- Fed's Barr concerned over risks of highly leveraged hedge fund trading in Treasury market
- Global equities expected to outperform fixed income in 2024: Barclays
- JP Morgan’s 2024 US Economic Outlook: Federal Reserve to start cutting rates in H2 of 2024
- New Zealand Q3 PPI rises sharply from Q2
- New York Fed official says the Treasury market is functioning smoothly, no dysfunction
- Xi promises further opening of China's economy, will he deliver?
- Forexlive Americas FX news wrap: USD/JPY slides as yields drop
- Flat day for US equities
- Trade ideas thread, Friday, 17 November - Charts, Analysis, and Trade Ideas for Discussion
Bank of Japan Governor Ueda gave his semi-annual testimony to parliament today. Ueda spoke extensively on the economy and policy outlooks but the key takeaway was, unsurprisingly, that the BOJ will “patiently maintain easy policy”. Ueda said an exit would be considered when the Bank can expect inflation to stably and sustainably hit price target.
I’ve grouped Ueda’s comments spread across separate posts together above for easy reference.
USD/JPY did very little on the session, other major-traded FX rates were the same. Small ranges prevailed, with traders seemingly content to wait it out until the weekend.
