Japan’s PM Ishiba: Not in an environment for additional rate hike

• Not in an environment for additional rate hike.
• I want to coordinate with the BoJ on the economy.
• I want to make the economy strong with an economic package.
• We will do all we can to overcome deflation.
• I expect the BoJ to conduct policy to exit from deflation based on 2013 accords.
• I expect the monetary easing trend to stay in place.

When he was elected last week, the JPY rallied while the Nikkei sold off as he was considered a hawk and supportive for further rate hikes. Turns out, he’s not.

This article was written by Giuseppe Dellamotta at www.forexlive.com.