BoJ’s Ueda: Want to see if next spring's wage growth is strong enough to support consumption

Bank of Japan (BOJ) Governor Kazuo Ueda is speaking at the press conference, held after its December policy meeting on Tuesday.

Key quotes

US Fed’s rate-cut phase may have impact on Japan's economy, including on FX rates.

Japan's consumption has shown some weakness but continues to recover overall.

Want to see if next spring's wage growth is strong enough to support consumption.

It should be possible for the market to forecast our policy shift at least to some extent.

Cannot deny some negative effect of negative interest rate policy on financial institutions' profitability.

But banks are seeing strong profits.

USD/JPY reaction to Ueda's comments

At the time of writing, USD/JPY is rebounding toward 144.00, in a sharp U-turn from near 143.40. The pair is up 0.81% on the day.