More from Bank of Japan Governor Ueda, speaking extensively in the Diet today:
- By keeping current monetary policy stance, will move closer to achieving price target
- Decided at July MPM that adjusting degree of monetary easing appropriate from standpoint of stably, sustainably achieving price target
- Real rates likely remain negative, easy financial conditions will keep supporting economy
- Fx rate determined by various factors
- Weak yen since 2022 comes as market participants focused on rate differentials between us and Japan
- Important for currencies to move in stable manner reflecting fundamentals
- Wage growth momentum is spreading to overall economy but there are some disparities among firms
Earlier from Ueda and fin min Suzuki:
- BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
- BoJ Ueda will adjust monetary easing if our economy price outlook is likely to be achieved
- Bank of Japan Governor Ueda says BOJ's policy steps were appropriate
- Japan fin min Suzuki says intervention action taken as excess volatility not desirable
- BoJ Gov Ueda again: July rate hike was done under accommodative conditions
- Japan finance minister Suzuki: Can't tell whether strong yen has bigger demerits or merits
USD/JPY fell away while all this was going on this morning in Tokyo. Its around 145.50 now.
