BoJ’s Ueda: Will check, at each policy meeting, data and factors available in deciding policy
Bank of Japan (BoJ) Governor Kazuo Ueda is back on the wires on Monday, noting that “we will check, at each policy meeting, data and factors available at the time in deciding policy.”
Additional comments
There are numerous factors we want to check, including on the US economiy but we won't necessarily wait until there is clarity for all of them.
Won't comment on short-term FX moves.
We will scrutinize at each policy meeting how FX moves affect our economic, price forecasts and risks.
If we don't adjust degree of monetary support appropriately, we could be forced to hike rates rapidly.
We are seeing progress in sustainably achieving price target as seen in service price developments.
Weak yen pushes up costs and have big negative impact on consumption, but positive for exports, inbound tourism.
Keeping real interest rate low for too long could accelerate underlying inflation above 2%, force us to hike rates rapidly.
Don't think there is huge build-up of Yen carry positions either way, compared with situation in July.