BOJ's Ueda wants more convincing that wages will keep rising

<p>Bank of Japan Governor Ueda with more remarks:</p><ul><li>
We need to have more conviction that wages will keep rising, rising
wages lead to service prices and economy remains strong, to ponder
exit from easy policy</li></ul><p>Once again Ueda indicating that an exit from ultra easy monetary policy is anything but imminent. He does allow himself a wee hedge though:</p><ul><li>There will always be new information coming in, so at any meeting
there is a chance of making a certain decision, when asked about
chance of BOJ foreseeing inflation sustainably hit 2% target at next
policy meeting in December</li></ul><p>More</p><ul><li>
Don't expect 10-year JGB yield to rise sharply above 1% even after
last YCC tweak</li></ul><p>And now he is muddying the water:</p><ul><li>
If 2024, 2025 inflation forecasts are strong enough, we may be able
to judge that sustained achievement of 2% target is in sight even if 2026
forecast is not available</li><li>Hard to say chance of ending zero interest rates this year is zero</li></ul><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/boj-gov-ueda-promises-ycc-negative-short-term-rates-will-be-kept-until-2-cpi-sustained-20231106/" target="_self">BOJ Gov Ueda promises YCC, negative short term rates will be kept until 2% CPI sustained</a></li><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-governor-ueda-says-its-important-to-look-at-real-rates-20231106/" target="_self">Bank of Japan Governor Ueda says its important to look at real rates</a></li></ul><p>USD/JPY update:</p>

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