Bank of Japan Gov Ueda says the Bank won't directly target FX in guiding monetary policy

<p>Bank of Japan Governor Ueda says the BoJ will not directly target FX in guiding monetary policy </p><p>If the BOJ did directly target the yen with policy they'd be running afoul of all sorts of agreements Japan has with the G7.</p><p>Further:</p><ul><li>May end YCC when stable and sustainable achievement of 2% inflation target is foreseen</li><li>Don't have a clear image in mind yet on how to tweak YCC</li><li>Don't expect a positive wage cycle to emerge when consumption, capex are sluggish</li></ul><p>When asked about

trigger for ending YCC, negative rate Ueda said

must make comprehensive judgment on various factors including outlook
for demand. Cannopt pre-set the timing of policy change. </p><p>Earlier from Ueda:</p><ul><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-governor-ueda-says-important-for-fx-to-move-stably-reflecting-fundamentals-20230925/" target="_self">Bank of Japan Governor Ueda says important for FX to move stably reflecting fundamentals</a></li><li><a href="https://www.forexlive.com/centralbank/more-from-bank-of-japan-governor-ueda-aware-of-the-impact-of-weak-yen-on-firm-earnings-20230925/" target="_self">More from Bank of Japan Governor Ueda: Aware of the impact of weak yen on firm earnings</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-governor-ueda-speech-full-text-patiently-maintaining-monetary-easing-20230925/" target="_blank" data-article-link="true">Bank of Japan Governor Ueda speech, full text. Patiently maintaining monetary easing.</a></li></ul><p>Similar comments today also:</p><ul><li><a href="https://www.forexlive.com/centralbank/boj-dep-gov-uchida-says-need-to-closely-watch-fx-markets-20230925/" target="_self">BOJ Dep Gov Uchida says need to closely watch FX markets</a></li></ul>

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