- Ueda told PM Ishiba that BOJ has enough time to carefully monitor financial markets
- There is no silver bullet in better communication
- Each approach comes with pros and cons
- No clear consensus among policymakers about future approach on better communication
- But there is a strong will to learn from what happened in August
If you need to recall, there was a bit of a mix up in messaging from the BOJ back in August. It came as the carry trade unwind went into overdrive and the Japanese central bank tried to calm markets amid all the volatility. Deputy governor Uchida came out to say that the market swings would "obviously" affect the BOJ's plans and that caused a bit of a stir as mentioned here at the time. Some took it to mean as Uchida was having differing thoughts to governor Ueda but all of that has since been cleared up. In short, it was a whole lot of ruckus over nothing really.