Japan’s Akazawa: Bank of Japan should be careful about raising rates

Market news

2 October 2024

Japan’s Akazawa: Bank of Japan should be careful about raising rates

Japan's newly appointed Economy Minister Ryosei Akazawa said on Wednesday that “the Bank of Japan (BoJ) should be careful about raising rates given it takes time to completely exit deflation.”

Additional quotes

Complete exit from deflation is a top priority.

PM Ishiba's comments on the need for monetary policy normalization have various conditions attached.

Normalizing is not unusual if requirements are met.

Market reaction

USD/JPY extends the recovery beyond 144.00 following these comments, up 0.39% on the day.

GBP/USD remains below 1.3300 as risk aversion grows due to rising geopolitical tensions

Silver Price Forecast: XAG/USD flat lines below mid-$31.00s, bullish potential seems intact

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