Research & Analysis
BOJ Governor Ueda's Insights on Japan's Economic Stability and Monetary Policy
- 2024-09-24
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Sept 24 2024
✅ Governor Ueda highlighted the ongoing strength and stability of the Japanese economy during his speech in Osaka on September 24, 2024, reflecting positive trends and consumer confidence.
✅ He emphasized the Bank of Japan's commitment to monitoring economic and price developments before deciding on any further interest rate adjustments, amid the current steady interest rate of 0.25%. (HOLD)
✅ Ueda noted that the risks of inflation overshooting due to import prices have diminished, providing more time for the central bank to plan its monetary policy.
✅ The speech underscored the persistent necessity for wage growth to sustainably achieve the BOJ's price stability targets, suggesting that wage hikes remain a central focus of policy considerations.
✅ Governor Ueda also reiterated the importance of a cautious approach to maintaining progress toward the BOJ's inflation target of 2%, amidst global uncertainties
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