Ueda touched on the recent decline in the Japanese yen and said that foreign exchange movements have a significant impact on the economy and prices, but I will not comment on certain movements and levels in foreign currencies.
- I will not exclude any options if economic developments and prices worsen.
- We do not exclude making any options, including deploying the tools that we have already used.
- It may take some time, but the probability of achieving the target price is high.
- Considering the current short-term interest rate level, which ranges from 0% to 0.10%, it is quite low.
- At some point in the future, we would like to gradually reduce the balance of our holdings of Japanese government bonds.
This key statement has the support of BOJ policymaker Tamura, who says that there is no definite formula when it comes to raising interest rates further. Adding that the Bank of Japan can still continue negative interest rates and control the yield curve again if the economy weakens.
