BoJ’s Uchida: Japan's economy recovering moderately albeit with some weak signs

Bank of Japan (BoJ) Deputy Governor Shinichi Uchida said on Friday that “Japan's economy recovering moderately albeit with some weak signs.”

Additional quotes

Underlying inflation likely to gradually accelerate.

Uncertainty surrounding Japan's economic, price outlook remains high.

Must be vigilant to financial, FX market developments and their impact on Japan’s economy, prices.

BoJ will decide specifics on bond tapering plan, size of reducting in bond buying will likely be significant.

Japan's financial system remains stable as a whole.

BoJ will adjust degree of monetary easing if economy, prices move in line with our forecasts.

Market reaction

At the time of writing, USD/JPY is adding 0.04% on the day to trade near 159.00.