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Former BOJ official says Bank should adjust policy as early as July

Hideo Hayakawa, former director of the bank, in an interview.

  • A major factor that will prompt the BOJ to change policy is a weaker yen, Hayakawa said.
  • While the BOJ has repeatedly stated that the yen is positive for the economy as a whole, the impact is close to 50/50 and household discomfort is expected to worsen further as inflation eases. is accelerating in Japan too, said Hayakawa, who left the bank in 2013.
  • “It’s too naive for the BOJ to say a weak yen is good as the government takes action to deal with price hikes and cap gasoline prices,” Hayakawa said. “An overwhelming majority of Japanese do not like the weakness of the yen.”

Bank of Japan Governor Kuroda has repeatedly said he will stick to a soft policy.

Anyway, this guy doesn’t think. You know what they say about opinions though. Link here for more.

USD/JPY update:

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