BoJ's Uchida: We Won't Raise Rates Amid Market Uncertainty
✅ Bank of Japan (BoJ) Deputy Governor Shinichi Uchida shared his views on interest rates, the value of the yen, and current market volatility:
✅ Key Quote:
"We will adjust interest rates if market volatility changes our economic forecasts or risk perceptions."
"We will not raise interest rates amid market uncertainty."
"The U.S. economy could see a soft landing, and the current market reaction appears to be excessive."
"We must maintain the current monetary easing policy due to extreme market volatility."
"Japan's real interest rates are very low, and we need to support the economy with easing policy."
📊 Market Reaction:
The Japanese Yen has faced renewed selling pressure following Uchida's dovish comments from the BoJ. The USD/JPY pair rallied to test the 147.50 level but is currently trading at 146.82, up 1.75% on the day.
