Japan's Matsuno: Observing the impact of the Fed's interest rate hike on the Japanese and global economies

On Thursday, the Japanese Chief Cabinet Secretary, Hirokazu Matsuno, said that the officials are keenly observing the effects of the Federal Reserve (Fed) interest rate hike on Japan and on the world economy too.

June 16, 2022 - 11:50 AM 258 views

Japan's Matsuno: Observing the impact of the Fed's interest rate hike on the Japanese and global economies

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© Japan's Matsuno: Observing the impact of the Fed's interest rate hike on the Japanese and global economies

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On Thursday, the Japanese Chief Cabinet Secretary, Hirokazu Matsuno, said that the officials are keenly observing the effects of the Federal Reserve (Fed) interest rate hike on Japan and on the world economy too.

Furthermore, Hirokazu Matsuno added that he expected the Bank of Japan (BoJ) to guide monetary policy in the correct way. When asked about the BOJ's policy meeting this week, he said, "in close consultation with the government."

He made his comments prior to Friday’s Bank of Japan (BoJ) monetary policy decision when the central bank was unfavorable to changing its ultra-dovish stance on monetary policy.

The Market Reaction

The USD/JPY currency pair is recovering to around 134.60 points amid a risk-on mood, up by 0.55% so far.

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