Bank of Japan (BoJ) Deputy Governor Ryozo Himino is back on the wires, via Reuters, noting that “our imminent task is to closely monitor financial market developments with high sense of urgency.”
Additional quotes
BoJ’s monetary policy has to take into account numerous factors.
Our task is to closely monitor market developments for the time being.
Not having in mind specific levels, range for neutral interest rates.
Financial conditions are accommodative right now.
Believe main scenario remains that the US economy will make soft landing.
Don’t have any specific timeframe in mind when asked how long BoJ would need to monitor market to judge it has stablised.
Will adjust degree of monetary easing if outlook of economy, prices is likely to be achieved.
Likelihood of economy, price outlook being achieved would be affected by various factors including market developments.
Market reaction
USD/JPY extends recovery gains, as Himino’s comments hit the wires again, currently adding 0.35% on the day to trade near 144.50.
(This story was corrected on August 28 at 6:27 GMT to say that “USD/JPY extends recovery gains, as Himino’s comments hit the wires again, not Kimino’s)
Source: https://www.fxstreet.com/news/bojs-himino-our-imminent-task-is-to-closely-monitor-financial-market-developments-with-high-sense-of-urgency-202408280548