Markets have been rife with speculation the BoJ could soon phase out yield-curve control but new governor Kazuo Ueda says he needs more time.
| Japan’s new central bank governor Kazuo Ueda says he wants more time to judge whether wage growth will be sustained enoughat the bank’s 2 per cent target, suggesting he will be in no rush to dial back its massive stimulus.
In parliamentary confirmation hearings in February, Mr Ueda stressed the need to keep ultra-easy policy to ensure Japan sustainably achieves the BoJ’s 2 per cent inflation target backed by wage growth. Mounting US recession fears are among headwinds for Japan’s export-reliant economy. While the end to COVID-19 curbs is propping up consumption, some analysts warn a recent slew of price increases for daily necessities could also hurt spending.
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