Bank of Japan (BoJ) Governor Kazuo Ueda stated that they will carefully analyze the results of wage talks and other data and information to determine policy decisions.
Here are some additional quotes:
- Adjustments to negative rates, Yield Curve Control (YCC), and other monetary easing tools may be considered if sustained progress toward the price target is observed.
- It’s crucial to assess whether a positive wage-inflation cycle is emerging to determine the timing for scaling back stimulus.
- This year’s wage negotiations play a significant role in determining when to exit from stimulus measures.
- Many corporate managements have received demands for higher pay, and we are observing numerous offers being made today and in the future.
Market reaction:
Ueda’s comments have maintained the recovery mode of USD/JPY, which is currently trading flat at 147.66.
Today’s Japanese Yen price:
The table below illustrates the percentage change of the Japanese Yen (JPY) against various major currencies today, with the yen showing its weakest performance against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.01% | 0.02% | 0.03% | -0.04% | 0.07% | -0.20% | 0.04% | |
| EUR | 0.00% | 0.01% | 0.03% | -0.04% | 0.06% | -0.22% | 0.04% | |
| GBP | -0.02% | -0.01% | 0.02% | -0.05% | 0.05% | -0.23% | 0.03% | |
| CAD | -0.04% | -0.03% | -0.01% | -0.08% | 0.03% | -0.23% | 0.01% | |
| AUD | 0.04% | 0.04% | 0.05% | 0.08% | 0.10% | -0.18% | 0.05% | |
| JPY | -0.07% | -0.03% | -0.04% | -0.03% | -0.07% | -0.28% | -0.02% | |
| NZD | 0.20% | 0.22% | 0.23% | 0.24% | 0.18% | 0.28% | 0.26% | |
| CHF | -0.06% | -0.04% | -0.03% | -0.03% | -0.06% | 0.02% | -0.26% |