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BOJ's Ueda: Price expectations must be around 2% for price target

2024-06-21FXStreetFXStreet
The Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that inflation expectations are gradually rising but yet to reach 2%, adding that the Japanese central bank will move cautiously on interest rates to avoid any big mistakes.

The Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that inflation expectations are gradually rising but yet to reach 2%, adding that the Japanese central bank will move cautiously on interest rates to avoid any big mistakes. 

Key quotes

Inflation expectations remain below 2%. 

Proceeding cautiously on interest rates. 

Uncertainties surround measuring neutral rate. 

Reduce bond buying during exit. 

To check financial market conditions post-March shift.  

Market reaction

At the time of writing, USD/JPY is trading 0.09% lower on the day to trade at 156.82.

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