Bank of Japan Governor Ueda is appearing in the Japanese parliament:
- Japanese economy modestly recovering despite some weakness seen
- Corporate profits are improving, with business sentiment solid
- As slowdown in overseas economy pressuring corporate profits, pace of economic growth expected to slow down
- Import prices pushing up inflation are expected to wane
- Uncertainties over overseas trade policies and economic, price situations remain extremely high
- Will continue to raise interest rates if economy, price move in line with forecasts
- Will conduct monetary policy appropriately depending on price, economic developments to achieve 2% target in a stable and sustainable manner
- Important to make judgment without any preset ideas
more to come
Nothing surprising from Ueda so far.
This article was written by Eamonn Sheridan at www.forexlive.com.
