Bank of Japan Governor Ueda says Japan's economy is recovering moderately

Bank of Japan Governor Ueda says Japan's economy is recovering moderately

• capex rising moderately
• Japan's economy is likely to keep recovering moderately

• Japans' trend inflation likely to gradually accelerate toward 2% through fiscal 2025
• Must carefully watch impact of market moves, including fx, on economy, prices
• Will patiently maintain easy policy
• We cannot say yet with conviction our price target will be stably, sustainably met
• Important to scrutinise whether Japan sees positive wage-inflation cycle

• Will take some time but inflationary pressure driven by cost-push factors are likely to dissipate
• There is still high uncertainty on whether japan can see positive wage-inflation cycle
• Govt, BOJ share view on desirable direction on economy, inflation

• Don't expect 10-year JGB yield to rise sharply above our 1% reference even if yields come under upward pressure

Bolding above is mine. Same old from Ueda.