Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: BOJ Gov Nominee Ueda Backs Overshooting Commitment

(MNI) Tokyo

Bank of Japan governor nominee Kazuo Ueda said on Monday that the BOJ needs to maintain its inflation-overshooting commitment for the time being.

However, Ueda told lawmakers that the BOJ will must pay attention to the risk that the overshooting commitment causes considerably higher prices.

Ueda also said that he doesn’t see the need to change the 2% price target but said “I cannot commit not to change the target now.”

When asked about a review of the BOJ's yield curve control policy, Ueda said that he will carefully monitor the effects of December's decision to widen the 10-year interest rate to restore the functioning in financial markets.

The overshooting commitment made in September 2016 commits the BOJ to continue expanding the monetary base until the year-on-year rate of increase in the observed consumer price index (CPI, all item less fresh food) exceeds the price stability target of 2% and stays above the target in a stable manner.

MNI Tokyo Bureau | +81 90-2175-0040 |
MNI Tokyo Bureau | +81 90-2175-0040 |

To read the full story

Why Subscribe to


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.