Hawkish headline comment from Bank of Japan Governor Ueda
- concerns about slowing US economy caused recent market rout
- closely watching market moves with a sense of urgency as uncertainties remain
- domestic and overseas markets remain unstable
- decided to raise rates in July due to risk of price overshoot driven by import costs
- economy is moving in line with price target protections
- important to communicate with the public on BOJ's thinking
- The Bank of Japan July rate hike decision was based on our inflation forecast and the risk of an inflation overshoot
More, this from a senior BoJ official:
- Japan's real interest rate remain deeply in negative territory, so accommodative monetary condition is maintained
- Need to take time to decide with what to do with ETF held by BOJ
- Not thinking about getting rid of ETF immediately
more to come
