BOJ’S UEDA: EXPECTS TO MAINTAIN ACCOMMODATIVE MONETARY POLICY FOR THE TIME BEING

The Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the Japanese central bank expected to maintain the accommodative monetary policy for the time being.

Key quotes

“BoJ expected to maintain accommodative monetary policy for the time being.”

“Accommodative monetary policy likely to underpin the economy.”

“Cost-push pressure on inflation dissipating but service prices continue to rise moderately.”

“Recent wage negotiation data, hearing on companies confirmed wage-inflation cycle strengthening.”

“Medium, long-term inflation expectations heading toward 2%.”

“BoJ will support the economy, and prices by maintaining accommodative monetary conditions for the time being.”

“We could have waited until inflation stays at 2% for a long time, before exiting massive stimulus but that could have led to a sharp increase in upside risk to price outlook