Japanese Finance Minister Shunichi Suzuki said on Friday that the monetary policy is up to the Bank of Japan (BoJ) to decide but added that he doesn't see any changes to the BoJ's policy, as reported by Reuters.

Key takeaways

"Won't hesitate to mobilise fiscal spending to protect people's livelihoods."

"I am aware of the fact that Japan's fiscal situation is severe."

"Will stick to the aim of achieving a primary budget surplus by the fiscal year 2025."

"Will strive to achieve fiscal reform to maintain market confidence in japan's public finances."

"Will make sure to use construction bonds for defense vessels, not to loosen the grip on fiscal discipline."

Market reaction

USD/JPY showed no immediate reaction to these comments and was last seen rising 0.28% on the day at 132.70.