Will keep adjusting degree of easing if our economic, price outlooks are to be realized

Speaking at the post-policy meeting press conference on Friday, Bank of Japan (BoJ) Governor Kazuo Ueda said that the Bank “will keep adjusting the degree of easing if our economic and price outlooks are to be realized.”

The BoJ left the benchmark interest rate at 0.15%-0.25% following its September policy meeting.

Additional quotes

Japan’s economy is recovering moderately, although some weakness has been seen.

Uncertainties surrounding Japan’s economy, prices remain high.

Must pay due attention to financial, FX markets, impact on Japan’s economy, prices.

Outlook of overseas economies, including the US economy, markets remain unstable.

Markets remain unstable, when asked about deputy governor uchida’s remarks.

Will monitor economy, market trends with extremely high sense of urgency.

Important to check overseas economic trends including the US when making policy decisions.

Risks of inflation overshoot have diminished to some extent.

Will check how overseas economic trends would impact corporate activities, earnings.

Uncertainties around the US and overseas economy are behind recent market moves.

Need to closely watch if the US economy would achieve soft landing or harder correction.

Real interest rates remain at very low levels.

There is some time to make decision on monetary policy because upside price risks have decreased given recent FX moves.

There is no specific time schedule for how long it would take to confirm impact of overseas economy on BoJ’s outlook.

Raised assessment on private consumption because wages are growing.

Recent data confirmed economy was moving in line with our outlook.

Recent data suggest we may be able to raise our outlook on underlying inflation, but overseas trends raise uncertainties.

developing story …

Market reaction

USD/JPY is little changed following these comments. The pair was last seen trading 0.13% lower on the day at 142.48.