BOJ governor Ueda says must conduct monetary policy in timely, appropriate fashion

• But without a pre-set schedule and taking into account various uncertainties
• Appropriate to raise rates if trend inflation heightens in line with forecast
• Market developments are still unstable
• Watching US and overseas economic outlook with strong sense of urgency
• Can afford to spend some time in scrutinising market moves and recent developments
• Consumption activity likely to increase moderately as household incomes rises
• It is becoming clear that impact of wage hikes is heightening

The overall language is more or less unchanged but the key takeaway is that he continues to note that markets are “unstable”. I feel that’s the key line that market players are looking out for with regards to recent BOJ remarks. So, there’s that. USD/JPY is sitting a little higher on the day, up 0.3% to 144.07 currently.

This article was written by Justin Low at www.forexlive.com.