BOJ's Noguchi: Further yen declines could impact underlying inflation

  • Further remarks by Noguchi on the day
Japanese yen currency
  • If yen fall accelerates, companies may pass on higher costs down the chain
  • Food price inflation expected to moderate but timing could be delayed if yen weakens further
  • Underlying inflation is yet to reach 2%
  • Pace of future rate hikes will depend on incoming data
  • BOJ policy adjustment has been, and will remain, very cautious and not conflicting with government policy

That last line is the only thing that matters in determining which side of the fence he is on. Besides that, the other comments are not anything that we haven't heard of before.

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