Bank of Japan Governor Ueda says want to observe FX

Bank of Japan Governor Ueda is speaking from parliament again today, answering questions:

  • Low real rate supports economy and inflation
  • Need to monitor FX and oil for real wages
  • There is no clear evidence thay Japan’s natural rate of interest continued to fall from five years ago, when its estimated to have been around zero
  • BJ can adjust degree of monetary accommodation via rate hikes if trend inflation accelerates gradually

Wage data from Japan today was not good:

This article was written by Eamonn Sheridan at