{"id":99634,"date":"2024-04-05T02:22:25","date_gmt":"2024-04-04T22:22:25","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=99634"},"modified":"2024-04-05T02:24:52","modified_gmt":"2024-04-04T22:24:52","slug":"bojs-ueda-interest-rate-policy-in-2024-hinges-on-data","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bojs-ueda-interest-rate-policy-in-2024-hinges-on-data\/04\/05\/market-updates\/","title":{"rendered":"BoJ\u2019s Ueda: Interest rate Policy in 2024 hinges on data"},"content":{"rendered":"\n<p>BoJ\u2019s K. Ueda gave fresh statements on the central bank\u2019s policy outlook, although he declined to comment on the recent performance of the Japanese yen.<br><br>Before Thursday&#8217;s European session begins, the Japanese Yen was still weak relative to the US dollar and is trading barely above a multi-decade low that was reached last week. Key elements undermining the safe-haven JPY include the Bank of Japan&#8217;s (BoJ) dovish stance, which states that monetary policy will remain easy for some time, and a positive risk tone. Nevertheless, fears that the Japanese government will meddle in the market to support the national currency prevent the JPY bears from making large wagers. <br><br>On the other hand, the US dollar continues for the third day in a row its corrective retreat this week from its highest level since February 14 due to the lack of clarity surrounding the Fed\u2019s rate-cutting trajectory. This helps to maintain the USD\/JPY pair below the 152.00 level even more. However, the idea that the difference between US and Japanese rates will remain large has buffered the fall. It&#8217;s possible that traders would rather stay out of the market before Friday&#8217;s release of the important US NFP report. <br><br><strong>Key Quotes<br><\/strong><br>\u201cChance of sustainably, stably achieving BoJ\u2019s 2% inflation target is in sight, likely to keep heightening\u201d.<br><br>\u201cBoJ will adjust level of interest rates in accordance to distance towards sustainably, stably achieving 2% inflation.\u201d<br><br>\u201cWhether to raise interest rates again this year will be dependent on data\u201d.<br><br>\u201cIf we become more convinced that trend inflation will approach 2%, that will be one reason to adjust interest rates\u201d.<br><br>\u201cIf FX moves appear to have impact on wage-inflation cycle in a way that is hard to ignore, we could respond via monetary policy.\u201d<br><br>\u201cNo comment on recent currency moves.\u201d<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BoJ\u2019s K. Ueda gave fresh statements on the central bank\u2019s policy outlook, although he declined to comment on the recent performance of the Japanese yen.Before Thursday&#8217;s European session begins, the Japanese Yen was still weak relative to the US dollar and is trading barely above a multi-decade low that was reached last week. Key elements &hellip;<\/p>\n","protected":false},"author":13,"featured_media":95737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7076,6856,10804,8874,7167],"class_list":["post-99634","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-bank-of-japan","tag-economic-data","tag-kazuo-ueda","tag-safe-haven-assets","tag-yen"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99634","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=99634"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99634\/revisions"}],"predecessor-version":[{"id":99642,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/99634\/revisions\/99642"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/95737"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=99634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=99634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=99634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}