Bank of Japan Governor Ueda
- We have made progress in moving away from zero and lifting inflation expectations, but we must now re-anchor them, this time at the 2% target
- BoJ will proceed cautiously, as do other central banks with inflation-targeting frameworks
- While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us
- The absence of significant interest rate movements poses a considerable obstacle in assessing the economy's response to changes in interest rates
Nothing of immediate relevance for traders here. No hints on what's to come at the Bank's June meeting. there are some expectations of another interest rate rise, and/or further trimming of Japanese Government Bond purchases. With yields on the rise in Japan it argues against the Bnk trimming JGB purchases.
