Bank of Japan (BOJ) Koji Nakamura, head of the central bank division overseeing monetary policy drafting, said Monday that the BOJ will continue to ease monetary policy to assist the economy.”
Further comments
"It's not good for only prices to increase.”
"It's important to form a virtuous cycle of price hikes led by an increase in household real incomes."
Separately, Japan’s Finance Minister Shunichi Suzuki said that he told the G8 meeting that it was critical to reaffirm the FX agreement.
Additional takeaways
Yield curve control is part of monetary easing.
YCC is to help meet inflation target.
Expects the Bank of Japan to make efforts to attain sustainable price objective.
Market reaction
USD/JPY remains pressured below 128.00 on the above comments. The spot was last seen trading at 127.77, down 0.07% so far.