- If FX fluctuations affect underlying inflation, that could be a consideration for monetary policy
- Weak yen is not having a big impact on trend inflation so far
- But weak yen did have some impact to an extent on higher inflation forecasts
- Likelihood of achieving 2% inflation target is gradually rising
USD/JPY is up a little more as it seems what Ueda isn't saying is the more important takeaway here. The pair is now at 156.15, up 0.3%, from around 155.95 earlier when he began speaking.
