Japan’s newly appointed Economy Minister Ryosei Akazawa said on Wednesday that “the Bank of Japan (BoJ) should be careful about raising rates given it takes time to completely exit deflation.”
Additional quotes
Complete exit from deflation is a top priority.
PM Ishiba’s comments on the need for monetary policy normalization have various conditions attached.
Normalizing is not unusual if requirements are met.
Market reaction
USD/JPY extends the recovery beyond 144.00 following these comments, up 0.39% on the day.
Source: https://www.fxstreet.com/news/japans-akazawa-bank-of-japan-should-be-careful-about-raising-rates-202410020403