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MNI BRIEF: BOJ Will Take Action Despite Policy Review - Ueda

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan Governor Kazuo Ueda said on Tuesday that the BOJ's monetary policy will depend on economic factors and not hinge on the Bank's internal review of its past actions.

The BOJ has not designed the review with specific policy in mind and future policy will be determined by policy-setting meetings, Ueda told lawmakers. When asked about foreign exchange, Ueda said rates should reflect stable economic fundamentals without elaborating on specific levels.

Finance Minister Shunichi Suzuki said markets should determine foreign exchange rates and excessive movements were undesirable.

The BOJ unveiled the policy review at its last meeting which could take up to 1.5 years to complete (See: MNI BOJ WATCH: Ueda Stresses Caution Ahead Of Policy Review).

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

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