The Bank of Japan (BoJ) new board member Junko Koeda said on Wednesday, “we are seeing signs of progress on rising prices alongside wage hikes.”
Additional quotes
Various indicators show underlying inflation moving towards 2% inflation sustainably.
Some effects of monetary policy steps appear with a lag.
Want to scrutinize how policy decisions so far could affect the economy.
Neutral rate is an important means in deciding monetary policy.
But need to take into account features of various data, models, and assumptions as well.
I’m not saying the BOJ should rush or not rush in raising interest rates.
Market reaction
USD/JPY is defending gains above 150.00 following these comments, up 0.17% on the day, as of writing.