Japan’s Suzuki expects BOJ to guide policy appropriatly taking prices, economy into account

Dhwani Mehta FXStreet

Japanese Finance Minister Shunichi Suzuki said on Tuesday that he “expects the Bank of Japan (BOJ) to guide policy appropriately taking prices and the economy into account.”

He said that “specific monetary policy is up to the BOJ to decide.”

Additional comments

For the time being, reserve money will be used for essential output.

We will create an additional budget in addition to the reserve fund.

Meanwhile, the country’s Chief Cabinet Secretary Hirokazu Matsuno said that the “decision on reserve funds tries to mitigate the impact of price increases.”

Japan’s ruling coalition junior party Komeito Head said that the yen has weakened more than before, adding that there is need to monitor impact on households.

Market reaction

At the time of writing, USD/JPY is consolidating its latest leg up above 143.00, modestly flat on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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