A private-sector member of the Japanese government’s Economic Council said on Thursday that he is “worried that the Bank of Japan (BoJ) may be behind the curve vs. inflation, which is already affecting people’s livelihood,” per Reuters.
Another member of the council said, “Japan now needs the policy to stabilize inflation at 2% unlike in the past when the goal was to accelerate inflation to that level.”
Market reaction
The Japanese Yen (JPY) is holding its recovery near 147.25 against the US Dollar (USD) following these comments, with USD/JPY losing 0.07% on the day so far.
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