Bank of Japan Governor Ueda:
- BOJ's massive monetary easing, including YCC, was a necessary process towards achieving our price target.
- We acknowledge BOJ's massive stimulus has caused various side effects.
- From a long-term perspective, rising interest rates will help improve financial institutions' profits.
- Rise in long-term interest rates will push up corporate funding costs, but also need to take into account how the improving economy will underpin their profits.
- Survey, data on bank lending, firms' funding conditions show they are in good shape.
- Accommodative monetary environment continues to support Japan's economy.
USD/JPY trading higher in its bounce:
