- No comment on specific FX levels
- But important for currency to move in a stable manner, reflecting fundamentals
- Will take into account if there is any discrepancy between own view and market view on rate hike expectations
- But believes that there is some distance from neutral rate currently
- Previous rate hikes have had very limited impact on Japanese economy as a whole
- Can't deny possibility of reaching inflation target in latter half of fiscal year 2025
It's a lot of words and a roundabout way of him reaffirming that he still has a hawkish bias for the most part. But again, he's just stopping short of explicitly confirming that he will favour another rate hike proposition in two weeks' time.
