BOJ Governor Blames US Weakness for Summer Market Volatility

Bank of Japan Governor Kazuo Ueda attributed the sharp fluctuations in currency and stock markets last summer primarily to investor concerns over weak US jobs data and the potential for a US economic slowdown, as reported by Reuters.

Speaking to parliament on Tuesday, Ueda acknowledged that the BOJ's policy stance may have contributed to the market's uncertainty. "We are aware, however, of criticism that our policy stance has not been clear enough and that was part of the reason for the market volatility," he stated.

Ueda's remarks come as the BOJ continues to navigate a challenging global economic landscape. The BOJ's ultra-loose monetary policy, characterized by its yield curve control program, has been a focal point of debate among investors and economists, with some questioning the central bank's commitment to maintaining its ultra-easy stance for an extended period.