BoJ’s Ueda: Bank will cut back on buying JGBs irrespective of data
Trending Articles- Gold rises to near $5,150 as Trump’s tariffs boost haven demand, US-Iran talks eyed
- Gold declines to near $4,850 as low liquidity, easing tensions weigh on demand
- Top 3 Price Prediction: BTC breakdown hints at deeper correction as ETH and XRP extend losses
- Gold rises above $4,950 as US-Iran tensions boost safe-haven demand
- Gold drifts higher to $5,000 on heightened US-Iran tensions
- Gold climbs above $5,200 on geopolitical tensions, trade uncertainty
Bank of Japan (BoJ) Governor Kazuo Ueda spoke at a seminar hosted by the Peterson Institute for International Economics on Friday. Ueda said that the Japanese central bank "very likely" will raise interest rates if underlying inflation continues to go up and begin reducing its bond-buying in the future, though the timing undecided.
Key quotes
“BoJ must maintain loose monetary policy for the time being as underlying inflation remains "somewhat below" its 2% target, and long-term inflation expectations are still near 1.5%.”
“BoJ will also begin to cut its purchases of Japanese government bonds (JGBs) (timing and extent of the reduction are yet to be determined).”
"Irrespective of what the data will say in the near future, we will like to find a way and timing to reduce the amount of JGB purchases.”
"If underlying inflation continues to go up, we will very likely be raising interest rates.”
Market reaction
The USD/JPY pair is trading at 154.62, losing 0.01% on the day at the time of writing.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
