Govt and BoJ must work closely to achieve long-term price stability

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  • November 28, 2022

Japanese Prime Minister Fumio Kishida said on Monday, “it is critical for the government and the (Bank of Japan) BoJ to collaborate closely and respond flexibly in order to achieve long-term, stable inflation.”

Additional quotes

Agreed with BoJ’s Governor Kuroda to achieve the price target while also achieving structural wage growth.

The government and the BoJ will base policy on the understanding of the 2013 joint statement.

Market reaction

Risk-off flows remain at full steam, accelerating the downside in USD/JPY following these comments. At the time of writing, USD/JPY is trading 0.31% on the day at 138.68.