A former chief cabinet secretary, Katsunobu Kato, said on Monday that Japan is seeing conditions fall in place for the central bank to normalize monetary policy.
A ruling party heavyweight underscored growing political support for further interest rate hikes, per Reuters. Key quotes “ Japan is seeing conditions fall in place for the central bank to normalize monetary policy.” “Bank of Japan must keep a close eye on economic conditions and coordinate carefully with the government in working out when to raise rates.” Japan is shifting to an era where prices and wages rise, from one where both barely moved.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
Exchanges Interestrate Macroeconomics BOJ
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