Bank of Japan (BoJ) Governor Kazuo Ueda said on Monday that some challenges are uniquely difficult for the Bank and BoJ will proceed cautiously as do other central banks with inflation-targeting frameworks.
Bank of Japan Governor KazuoUeda said on Monday that some challenges are uniquelydifficultfor the BankandBoJ will proceedcautiouslyas do other central banks with inflation-targeting frameworks. Key quotes We havemade progressin moving away from zero and lifting inflation expectations, but we must now re-anchor them, this time at the 2% target. BoJ will proceed cautiously, as do other central banks with inflation-targeting frameworks.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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