Japan’s Eco Min says not necessarily correct that Ishiba positive about further rate hikes

Japan’s newly appointed Economy Minister Akazawa hasn’t learnt about FX volatility yet!

Says not necessarily correct that Prime Minister Ishiba positive about further rate hikes

• complete exit from deflation is top priority
• says Bank of Japan should be careful about raising rates given it takes time to completely exit deflation
• Ishiba’s comments on need for monetary policy normalisation have various conditions attached

USD/JPY is on its session high around 144.00. These will be read as yen negative remarks.

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This article was written by Eamonn Sheridan at www.forexlive.com.