Japan’s Katayama says expect BoJ to conduct appropriate monetary policy to achieve 2% price target

Japanese Finance Minister (FM) Satsuki Katayama said on Thursday that official will review budget requests, control debt issuance at a level that can gain market credibility. Katayama also expect the Bank of Japan (BoJ) to steer policy properly to achieve stable, sustainable 2% inflation.

Key quotes

Will review budget requests, control debt issuance at a level that can gain market credibility.

We have stated our determination to address excessive volatility when we launched Japan-US joint intervention.

No comment on BoJ policy.

Expect BoJ to closely coordinate with government and conduct appropriate monetary policy to achieve 2% price target.

Expect BoJ to steer policy properly to achieve stable, sustainable 2% inflation.

Market reaction

At the time of writing, the USD/JPY pair is down 0.10% on the day at 156.10.