From Ueda’s experience as a board member who voted against a premature rate increase in the early 2000s, the governor is said to be wary of abandoning stimulus too quickly.
Uncertainty remains due in part to unclear messaging after the doubling of a cap on 10-year bond yields.
The complicated fallout of Abe’s audacious growth program, both good and bad, continues to ripple through markets and the economy.
Global central banks this week will offer the biggest collective assessment of a changed world since Russia’s invasion of Ukraine.
