- BOJ’s Nakagawa: Will decide fate of remaining pandemic-relief programme at Sept meeting
Market news
BOJ’s Nakagawa: Will decide fate of remaining pandemic-relief programme at Sept meeting
Bank of Japan (BOJ) monetary policy board member Junko Nakagawa said on Wednesday that “the BOJ will decide the fate of the remaining pandemic-relief programme at its September meeting, with an eye on the impact of the pandemic on financial conditions.”
Additional quotes
BOJ’s policy response has had the desired results.
Japan's consumer inflation has surpassed 2%, but simply reaching 2% will not suffice.
What BOJ is aiming at is positive cycle in which wages, inflation rise sustainably driven by increase in corporate profits, improvements in labour market.
BOJ must continue monetary easing to achieve inflation target in sustained, stable manner backed by positive economic cycle.
Japan's economy, mainly consumption, continuing to pick up as pandemic impact subsides.
Japan's output, exports showing weaknesses due to parts shortages, global supply constraints.
Sales prices in Japan not rising as quickly as raw material costs.
Market reaction
USD/JPY is off the lows, trading 0.14% lower on the day at 138.60, as of writing. Upbeat Japanese Industrial Production and Retail Sales data helped put a bid under the yen, sending the pair lower.
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