USD/JPY - comments from Aso, Ishihara

16 February 2016, 05:56
Sherif Hasan

Morning in Tokyo, time to wheel out the taking heads.

Japan finance minister Aso:

  • Government to coordinate with G7 in responding to recent mkt moves
  • Will take a while for monetary policy effects to materialise, need to keep watch on it
  • Not considering additional economic steps now to respond to Q4 GDP contraction

Japan economy minister Ishihara:

  • Need more time to analyse impact of BOJ's negative rate policy
  • BOJ's negative rate policy intended to keep money flowing through economy
  • BOJ negative rate policy shows strong will to beat deflation
On the basis of these remarks, no plans for more fiscal stimulus nor monetary stimulus. The half-life of these sorts of comments is short.
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