Bank of Japan Governor Ueda appeared in parliament today.
Comments here.
He is still speaking.
One remark in particular caught my eye:
This contrasts with what he has been saying in past months:
- BOJ would raise the policy rate this year if economic and price conditions continue to improve.
Ueda seems to be accepting that the economy has taken a turn for the worse … he’ll only hike:
- if economy, prices turn up again, outlooks likely to be realised
Bolding mine.
He also spoke of trimming tapering plans, see that link above for more.
JPY has dropped, USD/JPY is up nearly a big figure from its earlier low:
This article was written by Eamonn Sheridan at www.forexlive.com.
