BOJ governor Ueda: A rate hike is possible under a temporary economic downturn

Some final remarks by Ueda in closing out the press conference Before the Middle East conflict, underlying data showed that we are "on track"All things being equal, surging oil prices can push up inflation and curb economic outputA rate hike is still possible if economic downturn proves to be temporary, doesn't affect underlying inflationWe held rates steady this… Before the Middle East conflict, underlying data showed that we are 'on track' All things being equal, surging oil prices can push up inflation and curb economic output A rate hike is still possibl... Before the Middle East conflict, underlying data showed that we are 'on track' All things being equal, surging oil prices can push up inflation and curb economic output A rate hike is still possible if economic downturn proves to be temporary, doesn't affect underlying inflation We held rates steady this month since we put emphasis on lower visibility on likelihood of achieving inflation target Underlying inflation is gradually accelerating towards… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.