Bussiness
BOJ’s Uchida says “we have overcome the zero lower bound” | Forexlive
Deputy governor of the Bank of Japan Shinichi Uchida
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We still have a big challenge to anchor the inflation expectations to
2%, the end of our battle is in sight - Says ‘this time is
different’ - We have overcome the
zero lower bound - We returned to a
conventional monetary policy framework, aiming at a 2% price
stability target through adjustments of the short-term policy rate,
which means we have overcome the zero lower bound - Labour market
conditions have changed structurally and irreversibly - Not so clear if Japan has overcome deflationary norm
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The main driving force for these developments and long-waited
structural changes is labour shortages
Uchida making convincing sounds but he is still expressing some wariness that its “Not so clear if Japan has overcome deflationary norm”.
Earlier:
Over the weekend (Suzuki and Ueda in this post):
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