Ueda speech: BoJ will take appropriate policy decision to stably achieve 2% inflation target

Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday that “the BoJ will take appropriate monetary policy decision to stably achieve 2% inflation target, while scrutinizing economic, price and financial developments without any preconception.”

Further comments

• Global Japanese economic uncertainty has heightened sharply due to the US tariff policy.
• US tariff policy is likely to put downward pressure on global and Japanese economies through various channels.
• US tariffs are likely to exert both upside and downside pressure on prices.
• Impact on Japan's economy will also depend largely on upcoming developments in US tariff policy.

Market reaction

USD/JPY remains heavy below 143.00 following these comments, down 0.44% on the day.