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:

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:

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 Source