BOJ’s Uchida: With the current powerful monetary easing, the economy must continue to be supported.

The Central Bank’s Executive Director of Monetary Policy, Shinichi Uchida, said on Tuesday that "The Bank of Japan must continue its support and strengthen the economy with the present powerful monetary stimulus."

May 10, 2022 - 12:27 PM 255 views

BOJ’s Uchida: With the current powerful monetary easing, the economy must continue to be supported.

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© BOJ’s Uchida: With the current powerful monetary easing, the economy must continue to be supported.

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The Central Bank’s Executive Director of Monetary Policy, Shinichi Uchida, said on Tuesday that "The Bank of Japan must continue its support and strengthen the economy with the present powerful monetary stimulus."

Key Comments

·         The Bank of Japan's (BoJ) simple and easy monetary policy has lifted the economic costs.

·         Must make sure to provide continuous support to the economy with all-powerful monetarypolicy easing.

·         At present, Japan is still recovering from the pandemic's effects.

·         Recently, Japan has been under heavy pressure for raising the prices of commodities.

·         Currently, there are no plans to alter the 50 basis point (bps) band set around the 10-year JGB target.

·         Latest yen Currency movements are not favorable, making it highly difficult for companies to fix business strategies.

The Market Reaction

The USD/JPY currency pair is trading near 130.00 this week, pressured by the risk-off market and the commanding of inflation and growth risks.

Currently, the pair is below 0.17% on a day with US treasury yields are pulling back from multi-year highs.

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