Andrey Goilov about future BoJ Governor's speech: Ueda noted that the Bank of Japan will take a long time to revise its monetary policy
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Last week Kazuo Ueda tesitfied, so FXMAG team wondered what are analysts' assessments of the speech by the next Governor of the Bank of Japan and what was important, surprising in it and what kind of monetary policy in Japan can be expected. Here's what we get from Andrey Goilov, analyst at RoboForex.
Andrey Goilov (RoboForex): The Bank of Japan's comments are broadly in line with the regulator's current policy. On the other hand, they are disappointing for those investors who were hoping for a change in the BoJ's view on monetary policy.
Ueda noted that the Bank of Japan will take a long time to revise its monetary policy. In fact, this is a confirmation of the current rate.
The CB did not give a clear signal that could give grounds to changing the medium-term monetary policy. A "hawkish" tone would have allowed the yen to strengthen through increased speculative interest. However, this did not happen. The JPY remains vulnerable, and the USDJPY pair is clearly moving towards 137.00.
