Bank of Japan Governor Ueda says Bank will cut back on buying JGBs "irrespective" of data
Bank of Japan Governor Kazuo Ueda spoke at a seminar hosted by the Peterson Institute for International Economics on Friday. ICYMI from Ueda:BOJ must maintain loose monetary policy for the time being as underlying inflation remains "somewhat below" its 2% target, and long-term inflation expectations are still near 1.5%BOJ will also begin to cut its purchases of Japanese government bonds (JGBs) (timing and extent of the reduction are yet to be determined)"Irrespective of what the data will say in the near future, we will like to find a way and timing to reduce the amount of JGB purchases""If underlying inflation continues to go up, we will very likely be raising interest rates" This article was written by Eamonn Sheridan at www.forexlive.com.
Bank of Japan Governor Kazuo Ueda spoke at a seminar hosted by the Peterson Institute for International Economics on Friday. ICYMI from Ueda:
- BOJ must maintain loose monetary policy for the time being as underlying inflation remains "somewhat below" its 2% target, and long-term inflation expectations are still near 1.5%
- BOJ will also begin to cut its purchases of Japanese government bonds (JGBs) (timing and extent of the reduction are yet to be determined)
- "Irrespective of what the data will say in the near future, we will like to find a way and timing to reduce the amount of JGB purchases"
- "If underlying inflation continues to go up, we will very likely be raising interest rates"
