Economy Minister Minoru Kiuchi refrains from addressing market expectations ahead of the Bank of Japan’s policy meeting today.
Japan’s Economy Minister Minoru Kiuchi stated he will not comment on market expectations of a Bank of Japan (BoJ) rate hike during today’s meeting. Kiuchi emphasized the need for sustainable collaboration between the BoJ and government to achieve the 2% inflation target.
The BoJ has maintained an ultra-loose monetary policy since 2013, shifting to negative rates and yield curve control in 2016. In March 2024, the central bank raised rates for the first time in years, signaling a potential policy shift.
USD/JPY traded 0.05% lower at 160.25 following the remarks.