Bank of Japan’s Adachi denies speculation of ending negative interest rates

Earlier today we had comments from Bank of Japan Policy Board Member Adachi:

• BOJ official says yet to see positive wage-inflation cycle – easy policy to remain

Adachi effectively stuck a floor under USD/JPY for the session with his denial that Governor Ueda is looking for ways to end the Bank’s negative interest rate policy as a report in Japanese media yesterday stated:

• Japan media: Groundbreaking for the end of BOJ negative interest rates has finally begun

Adachi emphasized that:

• recent tweaks to YCC were not policy change
• now is not the time to say the Bank’s inflation target has been met
• policy will remain easy

USD/JPY is back above 147.00. For now at least:

This article was written by Eamonn Sheridan at www.forexlive.com. Source