Japan’s Kono: Not directly requesting BoJ to raise rates now

Japan's Digital Minister Taro Kono clarified that he is not directly requesting the Bank of Japan (BoJ) to raise rates now.

“Monetary policy decision is up to BoJ,” he added.

Responding to Kono’s comments, Finance Minister Shunichi Suzuki said he “hopes that politicians should be mindful about commenting on market-related comments due to their impact.”

Additional comments

Also will attend G7 meetings to be held on the sidelines of G20 meetings.

Plan to discuss various topics including world economy and currency at G20.

Meanwhile, Japan’s private sector economic council members said that they cant overlook the weak Yen negative effects.

The country’s Prime Minister Fumio Kishida also came out on the wires to warn about the impact on inflation due to the Yen depreciation.

He said that the “government must be vigilant about the impact of rising prices, driven in part by a weak Yen, on the economy to achieve domestic-demand driven recovery.”

Need to be cautious about effects of rising prices due to weak Yen,” PM Kishida warned.