ICYMI – Japan’s main opposition leader calls for gradual BOJ rate hikes

If you have been on holidays and missed this (… cough), Japan’s biggest opposition Constitutional Democratic Party of Japan (CDPJ) leader Yoshihiko Noda spoke in an interview with Reuters on Friday. in brief:

• Noda says wrong for BOJ to focus on keeping ultra-easy policy
• BOJ should raise rates gradually without committing to set pace
• Weak yen has done more harm than good to economy
• Japan must get its fiscal house in order

Noda is a former PM (2011 to 2012) and finance minister.

• “It is wrong to focus too much on keeping monetary policy ultra-loose when Japan is experiencing inflation,”
• “The BOJ should raise interest rates gradually without committing to hike at a set pace.”

USD/JPY update:

This article was written by Eamonn Sheridan at www.forexlive.com.