BOJ Gov Ueda for keeping policy rate below neutral for now

• BOJ Gov Ueda addressing Japan business Federation Keidanren now
• Notes price rises in wide range of goods, services reflecting wage gains
• That said, uncertainties still high, for keeping policy rate below neutral
• Rate hikes still possible depending if economy/prices continue to improve
• Wants to avoid excessive accommodation, against sharp rate hikes
• Timing and pace of further monetary policy changes data-dependent
• Market eyeing 50 bp of rate hikes by March but pace of hikes slower?
• BOJ January hike chance maybe less than 50% given hesitant Ueda-speak
• USD/JPY catches small bid on Ueda-speak, 156.98 day low to 157.36 EBS
• High earlier in the session 157.50, JGB yields mostly in stasis
• See nP8N3ML02I, nP8N3ML02J, latest poll on BOJ nL4N3NB0GY
• Related comment nL1N3NL026, for more click on FXBUZ

BOJ keeps rates steady: https://reut.rs/3P4aygz

USD/JPY hourly: https://tmsnrt.rs/3VW27HQ

(Haruya Ida is a Reuters market analyst. The views expressed are his own)