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by The Japanese Yen recently strengthened to around 142.2 per dollar. This was due to comments from Bank of Japan Governor Kazuo Ueda about inflation progress.
Key points include:
- Ueda stated that Japan’s economy is slowly moving away from a low-inflation environment.
- The chance of achieving the price stability target is gradually increasing, but it’s not yet high enough.
- If the positive cycle between wages and prices strengthens and the likelihood of sustainably achieving the 2% inflation target increases, the board may consider altering its monetary policy.
- Earlier this month, the BOJ kept its ultra-loose monetary policy and didn’t comment on potential policy normalization next year.
- In November, Japan’s unemployment rate was 2.5%, the same as the previous month and in line with market predictions.
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