All articles tagged with #ueda
BOJ official Takata discusses Japan’s economy and price trends in the context of modest overseas growth and mixed domestic demand, noting how U.S. economic trends and Fed policy influence global conditions. He emphasizes ongoing assessment of the economy and inflation, with particular attention to upside price risks and FX movements as the central bank continues to calibrate policy after several rate hikes.
The Japanese yen fell after reports that Prime Minister Takaichi told BoJ Governor Ueda she was reluctant to pursue further rate hikes, placing pressure on the central bank and helping push USD/JPY toward the 156 area amid potential intervention risk from Japan’s finance ministry.
The Bank of Japan raised interest rates as expected but provided little guidance on future policy, leading to a broad weakening of the yen, which hit a record low against the euro. Ueda's vague comments and dissenting board members' views contributed to market uncertainty, while other major central banks like the ECB and BoE took different stances on monetary policy. The euro and sterling experienced modest movements amid mixed signals from global monetary authorities.
Asian stocks declined amid risk aversion, while the yen strengthened and Japanese bond yields surged following BOJ Governor Ueda's hints at potential rate hikes, with investors awaiting US economic data and Fed comments for further direction.
Federal Reserve Chair Powell's speech at the IMF's annual research conference is the highlight of the week, with questions surrounding the assessment of last week's FOMC decision and press conference. Bank of Japan Governor Ueda will also be speaking at an FT event, while Bank of England Governor Bailey and ECB President Lagarde will speak on Wednesday.