Bank of Japan (BoJ) board member Asahi Noguchi said on Thursday that the “timing of next rate hike is data dependent.”
Additional quotes
No comment on PM Shigeru Ishiba’s remarks on monetary policy .
Expect the Bank of Japan (BoJ) to adjust degree of monetary policy if economy moves in line with forecast, even at a very slow pace.
Personally feel we need to proceed very carefully in adjusting degree of monetary support.
Can’t say now when the BoJ will raise rates again.
Need to scrutinize whether consumers’ sentiment will shift to one where they can swallow price hikes.
As Governor Ueda has said, we have time to scrutiniae economic developments, before contemplating rate hike.
Current financial environment is sufficiently easy.
One-sided, sharp Yen fall seen in July has subsided.
Upside inflation risk from weak Yen has subsided.
Outlook of trend inflation, wages key to BoJ’s future policy decisions.
Very important that momentum seen in this year’s wage negotiation is sustained next year.
Believe it’s safe to expect the US economy to make soft landing, fed to gradually lower rates.
BoJ’s 2% inflation target is a framework agreed upon between BoJ, govt.
We will respect that framework in guiding monetary policy, and communicate closely with govt.
We must acknowledge politicians’ remarks on monetary policy as likely reflecting public’s view.
See need to improve BoJ’s communication to avoid repeat of confusion that happened in July.
One idea would be to set opportunities for board members to express their views more frequently in public.
Japan’s economy can weather yen rise, as long as it’s gradual.
Market reaction
The Japanese Yen is recovering further ground on the BoJ official’s latest comments, which eases rate hike concerns. USD/JPY was last seen trading at src46.55, still up 0.07% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.