Japan’s Goto: Friday’s BoJ decision not a shift in monetary easing stance

Market news

1 August 2023

Japan’s Goto: Friday’s BoJ decision not a shift in monetary easing stance

Speaking in an interview with Reuters on Tuesday, Japan’s Economy Minister Shigeyuki Goto noted, “BoJ's Friday decision was meant to increase the sustainability of monetary easing by making YCC more flexible.”

Goto said he “does not think the decision of the Bank of Japan on Friday was a shift in monetary easing stance.”

His comments come after a senior official from Japan’s ruling Liberal Democratic Party (LDP) said Monday, “the Bank of Japan’s (BoJ) policy tweak sends a message to exit from easing finally.”

Market reaction

On the above comments, USD/JPY is challenging intraday highs near 142.80, up 0.33% on the day.

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