Japanese economic minister in comets from prepared speech 4 Aug
- not wrong even though inflation target has not been reached
- can't say when Japan will escape deflation completely
- Japan definitely not in deflation if looking at core CPI
- important to keep govt policy and BOJ mon policy separate but with co-operation
- BOJ should be independent
- important to keep FY2018 primary budget balance target
Nothing of real note from the land of the rapidly rising rhetoric.
USDJPY running into a few sellers again and retreats to 101.51
Japan's Ishihara says BOJ policy has not been wrong
