Monetary policy, judged by the BoJ, should be considered

Japan’s Chief Cabinet Secretary Yoshimasa Hayashi said on Monday that “monetary policy should be taken into consideration, judged by the Bank of Japan (BoJ)” when asked about market expectations for the BoJ’s next interest rate hike.

Additional comments

I remember that BoJ Governor Ueda has already said, with certain conditions, the BoJ is ready to go in this direction.

If the economic situation calls for a stimulus, I would prefer increased spending, payments rather than tax cuts.

Market reaction

At the time of writing, USD/JPY is trading 0.29% higher on the day, consolidating gains around 142.70.