Free Trial

MNI BRIEF: 2% Target Chance Rises, Data Needed - Ueda

(MNI) TOKYO

Bank of Japan Governor Kazuo Ueda said on Tuesday the probability of achieving its 2% price target in a stable and sustainable manner in fiscal 2025 had increased from November, but the bank still needs to ascertain the strengthen of the wage-prices cycle.

Ueda said he will focus on wage hikes next year and whether they will filter through to prices, but refrained from identifying specific data the BOJ will use to judge their strength.

He added the Federal Reserve’s rate cuts expected in 2024 will not affect the conduct of the BOJ’s monetary policy, which is driven by its own economic and price conditions.

U.S. inflation rates are falling due to the improvement in the supply side, which will prove positive for the U.S. and the Japanese economy, he added.

The BOJ kept its policy settings unchanged today.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.