FX

Japan PM Kishida: Expects BOJ to make efforts to achieve 2% inflation target

“I won’t touch sales tax for time being,” said Japan Prime Minister (PM) Fumio Kishida crossed wires, via Reuters, during early Friday.

Additional comments

See no need to tweak budget balancing target now.

Expects BOJ to make efforts to achieve 2% inflation target.

Specific monetary policy is left up to BOJ to decide.

Exit strategy is up to BOJ to decide.

Market reaction

Given the recently hawkish Bank of Japan (BOJ) Meeting Minutes, USD/JPY remain pressured following Japan PM Kishida’s comments suggesting further liberty for the BoJ.

Read: USD/JPY renews weekly low under 114.00 on downbeat yields, BOJ Minutes

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