BoJ’s Ueda: Cannot say with conviction that inflation will hit 2% sustainably
Bank of Japan (BoJ) Governor Kazuo Ueda continued to dismiss expectations of Japan sustainably achieving the 2% price target.
Additional quotes
Japan economy is recovering moderately.
The output gap has narrowed to near zero.
Some positive signs seen in wages and inflation.
But there is still high uncertainty on whether this cycle can strengthen further.
Market reaction
At the time of writing, USD/JPY is losing 0.35% on the day to trade at 148.93. The above comments are helping USD/JPY cut some losses.
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