BoJ's Ueda: Japan's economy is recovering moderately

Bank of Japan (BoJ) Governor Kazuo Ueda said on Friday that the Japanese economy recovering moderately albeit with some weaknesses.

Key quotes

Japan's economy recovering moderately albeit with some weaknesses.

Expect underlying inflation to gradually heighten after a pause.

Underlying inflation is likely to converge toward levels consistent with our price target in the latter half of the 3-year projection period.

Japan's real rate is significantly low.

Expect to keep raising interest rates in accordance with improvements in economy, prices if they move as projected.

Japan's financial system remains stable as a whole.

Given very high uncertainty on trade developments and their impact, we will determine without any pre-conception whether our economic, price projections materialise.