- Exchanged views with PM Ishiba on economy, financial markets in a regular meeting
- Had discussion on various topics about the economy, forex
- Exchange rate should move in a manner that is reflecting fundamentals
- No change to our stance on rate hikes
- No change to the stance of raising interest rates if economy, prices move in line with forecast
- Want to work closely with the government, watching FX moves carefully
- Discussed forex as part of broader discussion on markets but won’t comment on details
I’m surprised there isn’t any comment on the bond market. 30-year JGB yields are up to an unprecedented level of 3.26% today, with the global bound rout continuing to reverberate. The 30-year auction tomorrow will be a closely watched one for Japan. As for Ueda’s other remarks, there’s not too much in it really.
This article was written by Justin Low at investinglive.com.