Weak yen pushes up costs and have big negative impact on consumptionBut it is a positive for exports and inbound tourismDoes not think there is a huge build up of yen carry positions compared to JulySeeing progress in sustainably achieving price targetKeeping rates low for too long could accelerate inflation and force us to hike rapidly
These are all “insurance” comments in case they do angle the conversation in the coming weeks towards hiking rates in December. Otherwise, he’s not really giving anything away in playing it safe and right down the middle for now.
This article was written by Justin Low at www.forexlive.com.
