Monetary policy should be considered, judged by BoJ

Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said on Monday that the “monetary policy should be considered, judged by the Bank of Japan (BoJ)” when asked about market expectations of further rate hikes by the BoJ.

Additional comments

I remember BoJ Governor Ueda has already said, with some conditions, BoJ is ready to go in that direction.

If economic situation requires stimulus, I would prefer increasing expenditure, payouts rather than tax reduction.

Market reaction

At press time, USD/JPY is trading 0.29% higher on the day, consolidating the upswing at around 142.70.