If you've been on vacation and missed this (…cough), the head of Japan's largest Constitutional Democratic Party of Japan (CDPJ) Yoshihiko Noda spoke in an interview with Reuters on Friday. in brief:
- Noda says it is wrong for BOJ to focus on keeping ultra-easy policy
- BOJ should raise rates gradually without committing to a fixed pace
- A weak yen has done more harm than good to the economy
- Japan needs to get its fiscal house in order
Noda was a former PM (2011 to 2012) and finance minister.
- “It is wrong to focus too much on keeping monetary policy too easy when Japan is suffering from inflation,”
- “The BOJ should raise interest rates gradually without committing to hiking at a fixed pace.” “
USD/JPY Update:
This article was written by Eamonn Sheridan at www.forexlive.com.
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