Will respond appropriately to changes in the economy

The Bank of Japan (BoJ) Governor Kazuo Ueda was out with some comments earlier this Monday, saying that he had hoped to make the central bank’s policy framework simpler and easier to understand if economic conditions allowed while assuming his post a year ago.

Ueda added that he was able to fulfil the mission as the economy was in fairly good shape in the previous fiscal year and that the central bank will respond appropriately to economic changes under the new policy framework.

Market Reaction:

The comments, meanwhile, do little to provide any impetus to the Japanese Yen (JPY), which remains well within the striking distance of a multi-decade low touched against its American counterpart last week.