IMF Executive Board statement on consultation with Japan:
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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
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USD/JPY update, moving sideways circa 156.20 ish:
This article was written by Eamonn Sheridan at www.forexlive.com. Source