MNI BRIEF: Easy Financial Conditions To Continue - BOJ's Ueda
Bank of Japan Governor Kazuo Ueda said on Wednesday the BOJ would maintain easy financial conditions to for now as medium- to long-term inflation expectations and underlying inflation are in the process of rising to 2%.
Ueda told lawmakers the outlook for monetary policy will depend on the economic and price developments.
The Bank will not change the size of its Japanese government bond holdings and will continue to buy JGBs at the same price as before, indicating the stock-effects of its holdings on yields continued, and will continue to buy JGBs in a flexible manner should yields rise sharply, he added.
The governor also said real wages, currently in negative territory for the 22nd straight month, will likely not turn positive. Wages at smaller firms this year are expected to rise above those of last year, he continued.
The BOJ exited its easy policy settings last week. (See MNI BOJ WATCH: Ueda Says Rate Path Will Depend On Prices)