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BoJ’s Ueda: There is uncertainty on how far we can eventually raise interest rates

Bank of Japan (BoJ) Governor Kazuo Ueda said on Thursday, “there is uncertainty on how far we can eventually raise interest rates.”

Additional comments

We are working on narrowing our estimate on neutral interest rate, will disclose findings if we can successfully do so.

For now, we have to work with our current estimate set in a fairly wide range.

There is uncertainty on how far we can eventually raise interest rates.

Current monetary conditions still accommodative.

Govt's economic package likely to push up economic growth.

Package will likely work both ways in terms of impact on inflation.

Japanese Yen seems poised to appreciate further vs USD amid divergent BoJ-Fed expectations

The Japanese Yen (JPY) is trading with a positive bias during the Asian session on Thursday and looking to build on the previous day's gains against a broadly weaker US Dollar (USD).
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USD/CAD trades with positive bias above mid-1.3900s; upside potential seems limited

The USD/CAD pair attracts some buyers during the Asian session on Thursday, and for now, seems to have snapped a two-day losing streak back closer to the 1.3940-1.3935 region, or a nearly one-month low, touched last week.
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