Japan’s government official: Consumer inflation to move around 1.5% in fiscal 2024

A Japanese government spokesperson expresses his take on the country’s inflation and monetary policy outlook on Monday.

Additional quotes

Hope BoJ coordinate with govt on economic policy, take steps based on understanding agreed upon between govt-the BoJ joint statement.

Specific monetary policy up to the BoJ to decide.

We will do our utmost to ensure Japan achieves positive wage and inflation cycle.

When excluding one-off factors from govt utility subsidies, govt expects Japan's consumer inflation to move around 1.5% in fiscal 2024.

Market reaction

USD/JPY is unperturbed by the above comments, keeping its latest downside intact at around 141.40, at the time of writing. The pair is losing 0.29% on the day.