Bank of Japan Governor Kuroda
- Cost-push inflation driven by rising import costs is likely to start dissipating in 2023
- the upward revision in the BOJ's October report reflects our view that prices are likely to gradually rise accompanied by wage hikes
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I noted last Friday the change in tone from the BoJ on rising wages:
Kuroda adding to the Outlook Report's assessment on wage gains may well be just some sort of effort to prop up the JPY . But, it is a notable change from the Bank and is worth paying attention to.+
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More:
- Appropriate to continue monetary easing to support economy for now
- Most appropriate policy now is to put downward pressure on entire yield curve with YCC
- Making YCC more flexible is a future policy option but not something to do now
