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Iranian Army Commander-in-Chief: The enemy tried to subdue Iran, destroy Iran, and even change the country's map during the war, but none of these goals were achieved. In the end, it was the enemy who sought a ceasefire.
Bank of Japan Deputy Governor Shinichi Uchida: Foreign exchange may affect underlying inflation.
Bank of Japan Deputy Governor Shinichi Uchida: Foreign exchange has a greater impact on prices than in the past.
Bank of Japan Deputy Governor Shinichi Uchida: The goal of monetary policy is not to control the exchange rate level.
Bank of Japan Deputy Governor Shinichi Uchida: We need to carefully assess whether the Middle East peace talks will have a greater impact on the economy and prices.
Bank of Japan Deputy Governor Shinichi Uchida: Governor Kazuo Ueda's hospitalization is short-term and will not affect the implementation of monetary policy.
Bank of Japan Deputy Governor Shinichi Uchida: I do not believe that the absence of Bank of Japan Governor Kazuo Ueda will have a significant impact.
Bank of Japan Deputy Governor Shinichi Uchida: Governor Kazuo Ueda's overall views are consistent with his previous discussions.
Bank of Japan Deputy Governor Shinichi Uchida: I cannot disclose the views of Government Governor Kazuo Ueda.
Bank of Japan Deputy Governor Shinichi Uchida: The estimates of the neutral interest rate are too scattered and have no reference value for monetary policy.
Bank of Japan Deputy Governor Shinichi Uchida: Based on our assessment of the main economic scenarios and considerations of risks, we have decided to raise interest rates today.
Bank of Japan Deputy Governor Shinichi Uchida: Japan's "wage-price transmission mechanism" is operating quite smoothly.
Fitch: The credit outlook for the Asia-Pacific region will deteriorate further by mid-2026.
Bank of Japan Deputy Governor Shinichi Uchida: In recent years, the wage-price transmission mechanism has become consistent with the 2% price target.
Bank of Japan Deputy Governor Shinichi Uchida: Basic wage growth will remain stable at around 3.5% this year.
Policy Statement: 1. Interest Rate Decision: The Committee unanimously decided to maintain the interest rate at 4.35%, in line with market expectations, following three consecutive rate hikes. 2. Forward Guidance: The Committee will take necessary measures to achieve its objectives, including further raising the cash rate target if necessary. Financial conditions have tightened this year as the cash rate target has already been raised three times. 3. Inflation Situation: Latest data show that both headline and core inflation remain excessive; inflation is likely to remain high for some time. Short-term inflation expectations have eased somewhat but remain higher than at the beginning of the year. 4. Economic Situation: Signs of economic slowdown have emerged as expected following the 2026 rate hike. Significant uncertainty remains regarding domestic economic activity and the inflation outlook. 5. Oil Price Impact: The global oil supply issue will take some time to resolve, which will continue to exert upward pressure on global energy prices and inflation. The impact of high oil prices on goods and services is becoming apparent. The Committee remains focused on ensuring that inflation does not become entrenched after the shock of high oil prices subsides. Governor's Press Conference: 1. Interest Rate Decision: No rate hike was considered at this meeting. 2. Policy Guidance: Further tightening of policy is possible if necessary. Waiting until inflation eases before taking action may be too late. 3. Inflation Situation: Inflation remains too high. Demand needs to slow for inflation to fall. We remain concerned about inflation, but it is currently in a better position. Upside risks to inflation remain. 4. Economic Situation: We do not predict an economic contraction this quarter. Monthly data is highly volatile; more data is needed. 5. Labor Market: We still believe the labor market remains somewhat tight at an unemployment rate of 4.5%.
Bank of Japan Deputy Governor Shinichi Uchida: The wage-price transmission mechanism has been stabilized.
Bank of Japan Deputy Governor Shinichi Uchida: Price trends are gradually converging towards 2%.
Bank of Japan Deputy Governor Shinichi Uchida: The risk of a major economic recession caused by the Middle East conflict is diminishing.
Bank of Japan Deputy Governor Shinichi Uchida: It is crucial that core inflation remain stable at 2%.
Apr 21, 2023 14:03
Apr 21, 2023 13:58
Apr 20, 2023 13:54