Bank of Japan Governor Ueda says Japan's economy is recovering moderately

<p>Bank of Japan Governor Ueda says Japan's economy is recovering moderately</p><ul><li>capex rising moderately</li><li>Japan's economy is likely to keep recovering moderately</li></ul><ul><li>
Japans' trend inflation likely to gradually accelerate toward 2%
through fiscal 2025</li><li>Must carefully watch
impact of market moves, including fx, on economy, prices</li><li>Will patiently
maintain easy policy</li><li>We cannot say yet
with conviction our price target will be stably, sustainably met</li><li>Important to
scrutinise whether Japan sees positive wage-inflation cycle</li></ul><ul><li>
Will take some time but inflationary pressure driven by cost-push
factors are likely to dissipate</li><li>There is still high
uncertainty on whether japan can see positive wage-inflation cycle</li><li>Govt, BOJ share view
on desirable direction on economy, inflation</li><li><p>
Don't expect 10-year JGB yield to rise sharply above our 1% reference
even if yields come under upward pressure</p></li></ul><p>Bolding above is mine. Same old from Ueda.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.