A former BOJ Policy Board member discusses the BOJ’s logic. Against the backdrop of Japanese authorities intervening in the foreign-exchange market and the dollar-yen rate moving to around ¥161, the discussion also addressed the significance of the 6-3 split vote, whether inflation is “real,” and the outlook for real wages.
As part of a discussion of the BOJ’s logic, the program examined the situation in which foreign-exchange intervention was carried out and the dollar-yen rate moved to around ¥161. It highlighted points to bear in mind regarding the background to the intervention and the market’s reaction.
Experts gave their views on whether current inflation is “real” and whether real wages will remain positive. The discussion focused on the connection between the real economy and price trends.
Former BOJ Policy Board members Noguchi Akira (野口旭) and Shirai Sayuri (白井さゆり), along with Nagahama (永濱), commented on the BOJ’s logic and the outlook ahead. The program provided analysis based on the intentions behind the intervention and issues surrounding policy implementation.