Japan’s Kihara: Specific monetary policy is up to BoJ to decide

Japan Chief Cabinet Secretary Minoru Kihara said on Thursday that the government's stance to leave monetary policy decisions up to the Bank of Japan (BoJ) has not changed even after the Iran war.

Meanwhile, Japan’s Finance Minister Satsuki Katayama stated that she is prepared to take necessary actions whenever required against market volatility. She added that she is watching financial markets with an extremely high level of vigilance.

Key quotes from Kihara

There is no change in Japan government stance when asked about U.S. intelligence agencies report regarding Japan stance on Taiwan. 

Specific monetary policy is up to Bank of Japan to decide. 

Government's stance to leave monetary policy decisions up to Bank of Japan has not changed even after Iran war. 

Government will not comment on how Bank of Japan monetary policy, including its decision in April, could affect prices. 

Hopes Bank of Japan works closely with government and guides appropriate monetary policy to stably and sustainably achieve 2 percent inflation driven not by cost-push factors but wage gains. 

Market reaction

At the time of writing, the USD/JPY pair is down 0.04% on the day at 159.80.