Nakagawa is a member of the Bank of Japan monetary policy board.
Nakagawa spoke earlier, clearly indicating the rate hikes are not done:
- BOJ’s Nakagawa speaks on one-sided yen falls
- USD/JPY has dropped under 142.00 on BOJ Nakagawa comments
Main points, in summary:
- Bank of Japan will
continue to raise interest rates if inflation moves in line with
its forecast - last month’s market rout has not derailed its
plan to hike steadily - the BOJ must take into account the impact
that such market moves could have on the outlook for the economy
and prices when considering whether to hike rates further - real interest rates are currently very low, we will
adjust the degree of monetary support, from the standpoint of
sustainably and stably achieving our 2% inflation target, if our
economic and price forecasts are met
USD/JPY dropped to near 141.50 and is currently around 141.70.
This article was written by Eamonn Sheridan at www.forexlive.com. Source