BOJ’s Uchida urges caution when considering timing of next rate hike

• There are now more factors that require being cautious, when thinking of next rate hike timing
• Market volatility is very large
• Will keep a close eye out on the moves and their impact on the economy, prices
• Thinks that stock markets will calm down at some point to reflect earnings, Japanese economy
• There is no gap in views between Ueda and myself

He adds that his comments reflect changes in the latest market developments following the BOJ meeting last week. USD/JPY is off the highs from earlier of 147.90 though, now trading to 147.15 but still up 2% on the day.

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