BOJs Nakamura is speaking and says:
Personally not confident about sustainability of wage growth.We are at a critical phase where we must check many data, cautiously adjust degree of monetary support in accordance of improvement in economy.Hopes of US soft landing heightening, but there are signs of economic slowdown.Japan’s economy recovering moderately although showing some week signs.Japan’s consumption lacks momentum.I personally see chance of inflation may miss 2% from fiscal 2025 onward.My growth forecast is below board meeting due to chance consumers may hold off on spending, Capex may be postponed.Japan’s economy has yet to move on course for stable growth path.
Nakamura comments are more dovish. The USDJPY is bouncing higher after trading as low as 150.175. The current price is trading at 150.51. The high price today reached 150.767.
This article was written by Greg Michalowski at www.forexlive.com.
