Inflation message from Japan's Finance Minister

Japanese Finance Minister Shunichi Suzuki said he expects the Bank of Japan to conduct monetary policy appropriately and work with the government to achieve its inflation target while taking into account “the economy, prices and financial conditions.” Japanese Finance Minister Shunichi Suzuki said on Tuesday he expects the Bank of Japan to conduct monetary policy appropriately and work with the government to achieve its inflation target while taking into account “the economy, prices and financial conditions.” Speaking at a press conference, Suzuki declined to comment on BOJ Governor Kazuo Ueda’s comments in a media interview over the weekend suggesting a gradual move away from negative interest rates and ultra-easy monetary policy. “The specific monetary policy implementation needs to be decided by the BOJ,” Suzuki said. “I expect the BOJ to continue to maintain close contact with the government and conduct monetary policy appropriately while taking into account the economy, prices and financial conditions to achieve the price stability target in a stable and sustainable manner,” Suzuki said. Japan's long-term interest rates rose to their highest level in nine years and eight months on Monday on expectations that the BOJ could move away from its negative interest rate policy following comments made by Ueda in an interview with the Yomiuri Shimbun.