Bank of Japan Governor Ueda:
- Trend inflation yet to reach 2%, so need to support economy's momentum toward hitting 2% by maintaining accommodative monetary conditions
- Want to scrutinise whether trend inflation will indeed head toward 2% in judging appropriate degree of monetary support
- Waiting to exit until trend inflation hits 2% would have heightened risk of inflation overshoot, force us to hike rates aggressively
Earlier:
USD/JPY has lost a few points since that linked post, above.
