Yen strengthens after BOJ signals economy is 'on track'

Wage and rate hikes are in line with the bank's outlook, Kazuo Ueda says

20250319 shibusawa

The yen traded at 149.15 to the dollar, gaining around 0.45%, after BOJ Gov. Kazuo Ueda said the economy is moving in line with his expectations. (Photo by Akira Kodaka)

LISA KIM and RYOHTAROH SATOH

TOKYO -- The Japanese yen appreciated on Wednesday afternoon after the Bank of Japan governor said wage hikes and policy normalization are "on track."

Gov. Kazuo Ueda was speaking during a news conference after a two-day policy meeting where board members decided to leave rates unchanged at 0.5%, as expected.

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