Bank of Japan Governor Ueda
- U.S. tariffs affect Japan’s economy through various channels
- Higher-than-expected U.S. tariffs raised global economic uncertainties, caused market turmoil
- U.S. tariffs could exert downward pressure on global, domestic economy, while can’t tell right now which way they would impact prices
- Frequently have one-on-one meetings with policymakers from other countries
- Plan to exchange views with U.S. Fed chairman and other policymakers at next week’s meetings
- Will assess U.S. policies, wage, price trend at next BoJ policy meeting
- Prolonged food inflation could change inflation expectations and result in real inflation, so we’ll closely monitor the situation using data and hearings
- We’re focused on underlying inflation as our goal is to achieve 2% inflation in a stably and durably
- Underlying inflation gradually approaching 2% with Labour situation being tight, inflation expectations rising modestly, but uncertainties are increasing due to U.S. tariff policies
Earlier:
Ueda comments on the uncertainty, he’s not alone in bewilderment. Even the main player doesn;t seem to know what he’s going to do next.
This article was written by Eamonn Sheridan at www.forexlive.com.
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