Bank of Japan Governor Kazuo Ueda spoke to the Japanese media and the broadcaster on Wednesday, and his remarks included no surprises, as he said:
- He is in no rush to dismantle highly lax monetary policy.
-Pointed to the risk of inflation rising above 2%, and that its acceleration was only minimal.
- Ueda is looking forward to the bank's regional branch directors meeting in the middle of next month, saying it will provide "a lot of information." On the prospect of a policy shift at the Jan. 22-23 meeting.
- For now, we don't expect any move at the January meeting.
- It is desirable that wages rise next year at the same pace as this year or somewhat faster.
- The chance to move short-term interest rates out of negative territory next year was not zero.
