BoJ Gov Ueda again: July rate hike was done under accommodative conditions

Earlier from Bank of Japan Governor Ueda:

• BOJ Governor Ueda says concerns over US economy slowdown behind recent market rout
• BoJ Ueda will adjust monetary easing if our economy price outlook is likely to be achieved

• Bank of Japan Governor Ueda says BOJ’s policy steps were appropriate
• Japan fin min Suzuki says intervention action taken as excess volatility not desirable

• Bank of Japan Governor Ueda says the monetary policy path remains highly uncertain

• Bank of Japan Governor Ueda says FX moves could effect the Bank’s forecasts

More:

• Hard to promise when and in what form we can disclose Japan’s
  estimated neutral rate
  if we can sufficiently narrow down
  estimated neutral rate, we must disclose our findings to public,
  media, markets
• Will narrow down
  range of expected neutral rate while monitoring how higher interest
  rates affect economy
  July rate hike was done under accommodative
  conditions
• Japan’s current
  short-term rate, at 0.25%, is still below the bottom range of what is
  estimated to be Japan’s neutral rate

USD/JPY is near its session low around 145.47.

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