Bank of Japan (BoJ) Governor Kazuo Ueda spoke in the Japanese parliament on Tuesday.
Bank of Japan Governor KazuoUedaspoke in the Japan ese parliament on Tuesday. Ueda warned of the potential need for policy response due to foreign exchange impactsandhe will closely monitor recent currency fluctuations. Key quotes “Monetary policy is aimed at impacting inflation, not the yen rate.” “Will examine the impact of themovement of the yenon the economy.” “FX moves could have a big impact on the economy and prices, and so the impact of FX volatility could be bigger than in the past.
Its mandate is to issue banknotes and carry out currency and monetary control to ensure price stability, which means an inflation target of around 2%. What has been the Bank of Japan’s policy? The Bank of Japan has embarked in an ultra-loose monetary policy since 2013 in order to stimulate the economy and fuel inflation amid a low-inflationary environment.
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