Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday that the central bank will make an "appropriate monetary policy decision" due to Japan's trend inflation being on the rise.
Ueda also remarked that service prices continue to rise "moderately," adding that "Trend inflation is also gradually accelerating. We will guide monetary policy appropriately in line with such moves." He went on to stress that it is desirable for the foreign exchange market to move "stably, reflecting fundamentals." He noted that Japan's economy is likely to experience a positive cycle, in which higher job and wage growth leads to moderate rises in inflation.
He refused to comment on foreign exchange levels, saying only that the rates depend on "various factors."
