Japan's Kiuchi hopes BoJ will keep cooperating with government on fighting deflation
Japan's Economy Minister, Minoru Kiuchi, said on Tuesday that long-term rates are determined by markets through diverse factors, including supply-demand and steady economic recovery. Kiuchi added that he hopes the Bank of Japan (BoJ) will keep cooperating with the government per the joint statement on fighting deflation.
Key quotes
Long-term rates determined by markets through diverse factors including supply-demand, steady economic recovery.
Specific monetary policy up to BoJ to decide amid rate hike prospects.
Hopes BoJ will keep cooperating with government per joint statement on fighting deflation.
Rising interest rates may impact economy through multiple channels, so monitoring closely.
Market reaction
At the time of writing, the USD/JPY pair is trading 0.01% higher on the day to trade at 160.15.
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