Bank of Japan Governor Ueda, more comments from him. This time on the JPY!
- We won't change monetary policy just to deal directly with fx moves
- We might need to change monetary policy if fx moves lead not just to rising import prices, but risk pushing up trend inflation more than expected
- We want the Japanese Government Bond (JGB) market to eventually return to a state where yields are set by market prices
- We are now observing how the markets absorb the March policy shift, after which we hope to begin reducing the size of our JGB buying
![collapse yen jpy 10 April 2024](https://images.forexlive.com/images/collapse%20yen%20jpy_id_54516ae9-5fdc-4435-87b3-eb922389b9c1_original.jpg)
Earlier from the Gov: