Quick Glance: BOJ 2% inflation target "reasonable" for Ueda to maintain: ex-New York Fed chief
- Former Federal Reserve Bank of New York President Kazuo Ueda takes over for predecessor Haruhiko Kuroda, and argues that he should stick to his target of sustained 2% inflation.
- Despite annual price increases of more than 4%, Japan has seen "no meaningful acceleration in wages in recent years despite a tight labor market," according to William Dudley of Nikkei, noting that such wage growth is usually required for stable inflation.
- "Now the BOJ is trying to confirm that the [current] inflation will lead to higher inflation expectations and higher wages."
At his farewell news conference on Friday, Bank of Japan Gov. Haruhiko Kuroda appeared to lay the groundwork for an eventual tightening of his ultra-easy ... Show more https://s.nikkei.com/414vlFj
Quick Glance: The Bank of Japan maintains ultra-low interest rates during Kuroda's final policy meeting | The Asahi Shimbun: Breaking News, Japan News, and Analysis
- On Friday, the Bank of Japan (BOJ) maintained ultra-low interest rates while deferring revisions to its contentious bond yield control policy, leaving alternatives open ahead of an April leadership shift.
- "The BOJ will likely abandon its 10-year bond yield target, while maintaining negative interest rates, to arrest distortions in the yield curve," he predicted.
- It also kept a band set around the 10-year yield goal unchanged, allowing the yield to rise up to 0.5%.
- The BOJ reiterated its belief that Japan's economy will revive.
BOJ’s Haruhiko Kuroda Says Bold Monetary Easing Measures Effective in Boosting Economy
https://japannews.yomiuri.co.jp/business/economy/20230310-96558/
The Bank of Japan on Friday kept its ultra-easy monetary policy unchanged in the final policy meeting chaired by outgoing Gov. Haruhiko Kuroda ... Show more https://s.nikkei.com/41YWhHb
Ueda’s time at MIT solidified his nomination as BOJ chief
https://www.asahi.com/ajw/articles/14840080
Government taps Ueda as next BOJ governor to succeed Kuroda
https://www.asahi.com/ajw/articles/14839287
The government presented to the Diet plans to nominate economist Kazuo Ueda, 71, as the successor to Bank of Japan Gov. Haruhiko Kuroda ... Show more https://japannews.yomiuri.co.jp/politics/politics-government/20230214-91085/
Editorial: Kazuo Ueda, newly designated as the next governor of the Bank of Japan, has his work cut out for him
https://japannews.yomiuri.co.jp/editorial/yomiuri-editorial/20230211-90479/
Economist Kazuo Ueda tapped as next Bank of Japan governor
https://www.asahi.com/ajw/articles/14836903