Free Trial

MNI BRIEF: BOJ Deputy Gov Nominee Uchida Assessing Core CPI

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan deputy governor nominee Shinichi Uchida said on Friday that the BOJ will need to gauge the outlook for the core inflation rate after it fell from recent elevated levels.

Uchida told lawmakers that the baseline scenario made by the board members is that core CPI will fall below 2% in fiscal 2023 and 2024.

He also said easy policy, including the negative interest rate, is appropriate and the BOJ will not be able to remove the negative interest rate anytime soon given current economic and price conditions.

Uchida also said that it is premature to discuss an exit from easy policy, but declined to outline how and when an exit strategy would be considered as it depended on economic and price conditions at that time.

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.