Bank of Japan (BoJ) Governor Kazuo Ueda said on Tuesday that the Japanese central bank doesn’t have any preset idea on the timing, or pace of future rate hikes, adding that future monetary policy guidance will depend on economy, price, market development at the time, per Reuters.
Key quotes
“Don’t have any preset idea on timing, pace of future rate hike.”
“If trend inflation accelerates in line with our forecast, we will adjust the degree of monetary support through interest rate hike.”
“If our price forecast changes, that will also be a reason to change policy.”
“Future monetary policy guidance will depend on economy, price, and market development at the time.”
“Didn’t say anything new on BoJ policy last week in Washington.”
“Trend inflation is still somewhat below 2%, so need to maintain accommodative monetary conditions for the time being.”
“If geopolitical risks, weak domestic demand cause disruptions in markets, BoJ will respond through flexible, nimble liquidity provisions.”
Market reaction
The USD/JPY pair is trading at 154.75, losing 0.06% on the day at the time of writing.