Bank of Japan (BoJ) Board Member Funo Speech

Country:
Japan
JPY, Japanese yen
Source:
Sector:
Money

BoJ Board Member Speech may affect JPY rate depending on its rhetoric. If some hints at tightening the monetary policy by the Bank of Japan are detected in the speech, it may affect JPY positively. Yukitoshi Funo is a deliberation committee member of the Bank of Japan. His remarks are often cited as showing subtle clues about future monetary policy.

Before becoming a Member of the Bank of Japan Policy Committee, Yukitoshi Funo served as President of Toyota Motor Sales USA, Chairman of Toyota Motor Sales USA and Representative Vice President of Toyota Motor Corporation.

At the monetary policy meeting on January 28 and 29, 2016, he agreed to introduce negative interest rates. In a lecture given in Kobe city on March 23, 2016, he suggested that it is necessary to make efforts to boost the growth potential of Japanese economy through the development of the government's growth strategy and the loan support system of the BoJ.

Important people tend to avoid making explicit statements as they avoid having a significant impact on the market. Because Yukitoshi Funo is a businessman, he makes remarks based on the actual economy and business.