BOJ Gov Ueda: Won't necessarily wait for for positive real wages to exit YCC, neg rates

Bank of Japan Governor Ueda again.

• We don't necessarily need to wait until real wages actually turn positive in exiting YCC, negative rates
• If we think there is strong chance real wages will turn positive in the future, that may be sufficient in making decision on whether to continue with YCC, negative rate

• We need to confirm whether pass-through of import prices dissipate, and whether wage-inflation cycle kicks off as we expect, when asked on what conditions need to be met to end YCC, negative rates

Earlier, Ueda has hardly taken a breath today it seems:

• BOJ Gov Ueda says its important to raise labour productivity to push real wages up

• BOJ Ueda says YCC policy side effect risk is of greater market, including FX, volatility