Hawkish headline comment from Bank of Japan Governor Ueda
- concerns about slowing US economy caused recent market rout
- closely watching market moves with a sense of urgency as uncertainties remain
- domestic and overseas markets remain unstable
- decided to raise rates in July due to risk of price overshoot driven by import costs
- economy is moving in line with price target protections
- important to communicate with the public on BOJ’s thinking
- The Bank of Japan July rate hike decision was based on our inflation forecast and the risk of an inflation overshoot
more to come
This article was written by Eamonn Sheridan at www.forexlive.com.
