- We’re monitoring the situation with the yen very carefully but it’s the jurisdiction of the ministry of finance
- Wage inflation is now running at around 2%
- If you want a 2% inflation rate, you want wage inflation that’s slightly or well-above 2% to match productivity growth, so there’s still some ground to cover
- Yen is being influenced by many factors, including the policy of these other central banks
- If we become reasonably sure about the second part of inflation forecasts, that would be a good reason for reconsidering a policy change
- Investment is fairly strong at the moment
- We think the economy is going to expand at slightly-above potential for some time
- We do talk but do policy independently
- Demographics are working to tighten the labour market for quite a long while and that will continue
- We haven’t had any serious monetary policy tightening in decades
- If we do get to normalize our normal monetary policy, then rates may go up by large margins and we will have to be careful and carry out all kinds of stress tests
- It’s the business of the diet to create sustainable finances
- Wage growth is a good sign for us
The yen is the currency that could be a big mover on these comments if Ueda hints at an end to yield curve control.