A speech by Bank of Japan Deputy Governor Himino Ryozo (氷見野良三) was posted on the Bank of Japan's website, suggesting that the Bank will continue raising the policy rate and adjusting the degree of monetary easing. The market's reaction in dollar-yen was limited, with trading during the 10 a.m. hour around ¥159.23.
A speech by Bank of Japan Deputy Governor Himino Ryozo (氷見野良三) was posted on the Bank of Japan's website, suggesting that future monetary policy will involve raising the policy rate and adjusting the degree of monetary easing. The remarks drew market attention, but the immediate market reaction was limited.
The speech also noted that exchange-rate movements may now have a greater impact on prices than in the past. This heightened caution over currency movements, while no specific timing or level for a policy change was indicated.
The market remained within its range after the speech was published, with dollar-yen trading around ¥159.23 as of 10:44 a.m. The market is reportedly maintaining its view that expectations for a September rate hike have continued to build.