IMF Executive Board statement on consultation with Japan:
-
Further hikes in Japan’s short-term policy rate should proceed at a
gradual pace and be data-dependent - Japan’s
long-standing commitment to flexible exchange rate regime will help
absorb shocks, support monetary policy’s focus on price stability - BOJ’s
state-contingent purchases of JGBs will help mitigate excessive
shifts in yields that could undermine financial stability during
policy transition - Clear, effective
communication strategy by BOJ that continues to underscore factors
behind pace of rate hike will be key
–
USD/JPY update, moving sideways circa 156.20 ish:
![usdyen imf boj 14 May 2024 2](https://images.forexlive.com/images/usdyen%20imf%20boj%2014%20May%202024_id_36b910ec-b368-4920-bc5f-b3c913aa46ea_size900.jpg)
This article was written by Eamonn Sheridan at www.forexlive.com. Source