BoJ's Ueda: Uncertainties surrounding Japan's economy, prices remain high

The Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the central bank will keep adjusting the degree of easing if the economic and price outlook is to be realized. Ueda further stated that he will monitor financial and foreign exchange markets, and their impact on the economy and prices.  

Key quotes 

Japan's economy is recovering moderately, although some weak moves are seen. 

Uncertainties surrounding Japan's economy, and prices remain high. 

Must pay due attention to financial, FX markets, impact on japan's economy, prices. 

FX impact on prices has become larger than in past, as firms are more eager to wage, price hikes. 

Will keep adjusting degree of easing if our economic, price outlook is to be realized.

Need to closely watch impact of overseas economies, including u.s. economy, on japan's economic activities, prices. 

To publicise findings of long-term policy review after december meeting.  

Market reaction to the BoJ's Ueda speech

At the time of writing, USD/JPY is trading 0.35% lower on the day to trade at 152.88.