BoJ Governor Ueda’s Remarks Reinforce Market Skepticism on October Rate Hike
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
- BoJ Governor Ueda offered no new signals on Tuesday.
- Market maintains low expectations for an October 30 rate hike, around one-in-four chance.
- USD/JPY saw limited reaction, trading near 158.00.
Bank of Japan (BoJ) Governor Kazuo Ueda delivered his first major remarks since the September 18 rate hike to 1.25% on Tuesday at 06:35 GMT. Speaking at the National Securities Convention in Tokyo, Governor Ueda reiterated the central bank’s established policy views, offering few indications to alter prevailing market expectations against a back-to-back interest rate increase this month. Traders currently assign approximately a one-in-four chance of a further hike at the October 30 meeting. Earlier, Deputy Governor Shinichi Uchida had highlighted artificial intelligence (AI) as a significant positive demand shock contributing to upward pressure on economic activity and prices [STORY_ID: d04a4578-8d21-4655-b9f0-79659d8729bb]. Following Uchida’s comments, USD/JPY briefly dipped towards 157.50 before recovering, and has recently traded around the 158.00 level.