- We are in a phase where impact from tariffs would become apparent though not sure about when
- Will look at the data to come out without any preconception
- Will make appropriate decision at each meeting while confirming risks, likelihood of our view on underlying inflation
- Underlying inflation is gradually rising, not in phase of stalling due to tariffs
As expected, Ueda is not going to pre-commit to anything. But by acknowledging better developments on the trade front, that’s as much as we’re going to get of him saying that the BOJ is back on track in terms of looking to hike rates again. USD/JPY remains down 0.4% on the day at 148.87 currently, pinned down after testing its 200-day moving average at 149.50.
This article was written by Justin Low at investinglive.com.
