Nomura: Japan PM's Economic Blueprint Could Affect Timing of Rate Hike
BlockBeats News, July 2nd – Nomura Research Institute economist Takahide Kiuchi stated that if Japanese Prime Minister Naoto Kan uses his "basic policy" economic blueprint (expected to be approved by the Cabinet this month) to prevent further interest rate hikes, this may delay the Bank of Japan's next move.
He said, "Even if the government opposes, the Bank of Japan will raise interest rates when it deems necessary, but may partly respect the government's wishes on the timing of rate hikes." He also added, "Government pressure against the Bank of Japan's rate hike may further weaken the yen exchange rate and lead to a decline in bond prices, undermining the stability of the country's economy and financial markets." (FXStreet)
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