-Bank of Japan Governor Kazuo Ueda said the central bank should reduce its huge bond purchases as it moves toward an exit from massive monetary stimulus, reinforcing his resolve to steadily scale back its nearly $5-trillion balance sheet.
But it pledged to keep buying roughly 6 trillion yen worth of government bonds per month to stop the March policy shift triggering an abrupt spike in yields. The BOJ currently has 750 trillion yen in assets on its balance sheet, nearly 1.3 times the size of Japan's economy, including government bonds.
In current projections made in April, the nine-member board's median forecast is for core consumer inflation to hit 1.9% in both the fiscal year beginning in April 2025, and the one following in fiscal 2026. "Real wages need to turn positive and households' disposable income to rise more, for a cycle of rising income and expenditure to strengthen," he said, adding it was appropriate to maintain current monetary policy for the time being.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »