BOJ's Uchida says "we have overcome the zero lower bound"

Deputy governor of the Bank of Japan Shinichi Uchida We still have a big challenge to anchor the inflation expectations to 2%, the end of our battle is in sightSays 'this time is different'We have overcome the zero lower boundWe returned to a conventional monetary policy framework, aiming at a 2% price stability target through adjustments of the short-term policy rate, which means we have overcome the zero lower boundLabour market conditions have changed structurally and irreversiblyNot so clear if Japan has overcome deflationary norm The main driving force for these developments and long-waited structural changes is labour shortagesUchida making convincing sounds but he is still expressing some wariness that its "Not so clear if Japan has overcome deflationary norm".Earlier:Bank of Japan Governor Ueda says some challenges are uniquely difficult for the BankOver the weekend (Suzuki and Ueda in this post):Yen traders heads up - Japan finance minister Suzuki denies bilateral meeting with Yellen This article was written by Eamonn Sheridan at www.forexlive.com.

May 27, 2024 - 08:45
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BOJ's Uchida says "we have overcome the zero lower bound"

Deputy governor of the Bank of Japan Shinichi Uchida

  • We still have a big challenge to anchor the inflation expectations to 2%, the end of our battle is in sight
  • Says 'this time is different'
  • We have overcome the zero lower bound
  • We returned to a conventional monetary policy framework, aiming at a 2% price stability target through adjustments of the short-term policy rate, which means we have overcome the zero lower bound
  • Labour market conditions have changed structurally and irreversibly
  • Not so clear if Japan has overcome deflationary norm
  • The main driving force for these developments and long-waited structural changes is labour shortages

Uchida making convincing sounds but he is still expressing some wariness that its "Not so clear if Japan has overcome deflationary norm".

Earlier:

Over the weekend (Suzuki and Ueda in this post):

This article was written by Eamonn Sheridan at www.forexlive.com.
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