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3 Mar 2015
PM Abe advisor Honda attempting to forestall additional easing? – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team shares the key updates from the Japanese market, noting that the Japanese PM’s advisor Honda warned against the impact on economy due to BoJ’s aggressive easing
Key Quotes.
“USD/JPY was among the more active dollar majors, particularly in the afternoon session, falling about 70pips from the highs below ¥119.60.”
“Influential PM Abe advisor Honda warned against potential overheating of the economy as a result of overly aggressive BOJ policy, presumably in attempt to forestall additional policy easing. Honda said the BOJ should not react to lower oil prices weighing on inflation.”
“Separately, a Nikkei report citing QUICK Corp survey saw about 90% of respondents calling for the BOJ to change the time frame for achieving 2% inflation and over 50% for the BOJ to make the deadline vague and push it back.”
“Meanwhile, Japan labor cash earnings - a closely watched inflation indicator - saw yet another negative y/y print on inflation adjusted basis headed into the key spring wage negotiations.”
Key Quotes.
“USD/JPY was among the more active dollar majors, particularly in the afternoon session, falling about 70pips from the highs below ¥119.60.”
“Influential PM Abe advisor Honda warned against potential overheating of the economy as a result of overly aggressive BOJ policy, presumably in attempt to forestall additional policy easing. Honda said the BOJ should not react to lower oil prices weighing on inflation.”
“Separately, a Nikkei report citing QUICK Corp survey saw about 90% of respondents calling for the BOJ to change the time frame for achieving 2% inflation and over 50% for the BOJ to make the deadline vague and push it back.”
“Meanwhile, Japan labor cash earnings - a closely watched inflation indicator - saw yet another negative y/y print on inflation adjusted basis headed into the key spring wage negotiations.”