BoJ’s Ueda: Will scrutinize effect of govt's policy on inflation outlook once it is announced

Bank of Japan (BOJ) Governor Kazuo Ueda is speaking at the press conference, held after its October policy meeting on Tuesday.

Additional quotes

Will scrutinize effect of govt's policy on inflation outlook once it is announced.

We haven't had large upgrade to inflation outlook based on what we call '2nd force', or demand-driven factors.

Important for currencies to move stably reflecting fundamentals.

Possibility remains low for monetary policy to fall behind the curve.

Much of the cpi forecast revision is due to longer-than-expected rise in commodity prices.

Big volality in forex could have negative impact on economy.

Closely working with government, monitoring situation on forex.

We can contain speculative moves in market with flexible market operations.

We will allow more flexibility when it comes to non-speculative market moves based on fundamentals.

developing story, please refresh for updates

USD/JPY reaction to Ueda's comments

USD/JPY is off the intraday high of 150.31, currently trading at 150.20, still up 0.74% on the day.