Bank of Japan Governor Ueda
- Japan's trend inflation heightening, will make appropriate monetary policy decision
- Service prices continue to rise moderately
- Expects positive cycle to strengthen in which tight labour market leads to higher wages, household income
- Desirable for fx to move stably reflecting fundamentals
- Won't comment on fx levels
- Fx rates move on various factors
A 1% rise in interest rates will lead to 40 trln yen worth of valuation loss on BOJ’s JGB holdings
USD/JPY has taken a wee hit on the Ueda's remarks:
