Japanese Yen soars broadly in Asian session today, likely in delayed reactions to comment made by BoJ Governor Kazuo Ueda. Speaking to NHK, Governor Ueda indicated that the chance of moving the short-term interest rate out of negative territory in 2024 was "not zero." This remark marks a notable shift in tone from the central bank, even though Ueda also stated that he is "not quite convinced yet" that inflation in Japan can sustainably reach the 2% target. He emphasized the importance of the upcoming Spring wage negotiations as a critical factor in the central bank's decision-making process. Additionally, he further elaborated that BoJ would like to see wages hikes "broaden" to smaller firms... |