- December 19, 2022
- Posted by: Stratford Team
- Category: Economy
A customer holds a 1,000 yen banknote at a food stall in Tokyo, Japan, on Monday, Nov. 21, 2022.
SeongJoon Cho | Bloomberg | Getty Images
The yen climbed on Monday on news that the Japanese government is set to revise a joint statement with the Bank of Japan (BOJ) over the latter’s inflation target, potentially paving the way for a tweak in the BOJ’s ultra-loose monetary policy.
The yen was last 0.6% stronger at 135.91 per dollar, after having touched a high of 135.80 earlier in the session.
Prime Minister Fumio Kishida is aiming to make the BOJ’s 2% inflation target a more flexible goal by revising its decade-old joint statement with the central bank, Kyodo news agency reported on Saturday.
The current statement commits the BOJ to achieving its inflation target “at the earliest date possible,” and the BOJ has steadfastly stuck to its dovish monetary policy. That stance and the resulting interest rate differentials with the rest of the world has caused the…
