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- No preset idea on pace of rate hikes
- Also none on whether we will hike rates several more times
- If economy, prices move in line with forecast, then we will adjust policy in stages
- Have to scrutinise market moves at each policy meeting
- No preset idea on whether there is a ceiling on how much we could raise rates either
These are things that yen bulls would like to hear I guess, even if he’s trying to be vague on timing. He could’ve easily pointed to market volatility hindering them to hike. But instead, he chose to talk about not having any “preset” notions. So, yeah. USD/JPY is now down to the lows for the day at 143.20 levels.
This article was written by Justin Low at www.forexlive.com.
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