Ueda asserts the BOJ’s independence

key takeaways

• In his remarks following the Bank of Japan’s (BOJ) policy board meeting, Governor Ueda Kazuo sounded more positive about Japan’s economic outlook and stressed the importance of following the data in the bank’s decision making.
• Ueda gave little indication that Japan’s political situation is weighing on the bank’s thinking, suggesting that a weaker government could bolster the BOJ’s independence.