After creating havoc in the Japanese Yen markets, Bank of Japan Deputy Governor Shinichi Uchida is back on the wires now, via Reuters, commenting on the bank’s next policy move, the recent market volatility and the economic outlook. Key quotes Market volatility very large, so will keep a close eye out on moves and their impact on economy, prices. Real interest rates remain very low and will underpin economy.
There is no gap in views between governor and myself, my comments reflect changes in latest market developments after last week's BoJ meeting. Personally think there are now factors that require more caution about raising interest rates. Market reaction The Japanese Yen trims gains following these above comments, as USD/JPY reverses sharply from near 148.00 toward 147.00. The pair is currently trading at 147.20, still up 2.20% on the day.
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