- Private consumption remains solid despite inflation impact weighing
- Wage hikes are becoming more widespread
- Rising wages will continue to support private consumption
- Doesn't believe rate hike will have significant negative impact on the economy
- Does not have 0.50% policy rate in mind as a ceiling
- Will analyse impact of rate hikes up until now when considering additional rate hikes to come
- Doesn't believe economy, prices will slow due to additional rate hike
There was a bit of a mistranslation there, as the point of 0.50% policy rate missed a dropped word on it being a ceiling. USD/JPY is now down to 152.10 on the day. Ueda does say though that a weak yen didn't have much impact on their price outlook.