New BoJ Governor Ueda: Discussed the need to guide policy flexibly given economic uncertainty
Following his meeting with Japanese Prime Minister Fumio Kishida on Monday, new Bank of Japan (BoJ) Governor Kazuo Ueda said that they discussed the need to guide policy flexibly given economic uncertainty.
Additional takeaways
“Agreed with PM Kishida that there is no immediate need to change the 2013 joint statement with the government.”
“When uncertainty is high, govt, BoJ must communicate closely.”
“BoJ’s monetary stimulus has helped pull Japan out of deflation.”
“Uncertainty is high on outlook.”
Market reaction
USD/JPY is off the lows, holding steady at around 132.00 on Ueda’s comments. The pair has witnessed good two-way businesses so far this Easter Monday.