Usd/jpy – 84.28
Japan’s deputy FINMIN Sakurai said the Japanese gov’t aims to avoid issuing new bonds in compiling extra budget, its up to BOJ to decide its policy n increasing the purchase of JGB is one of BOJ’s options. Sakurai added that BOJ had taken sufficient easing steps n there were limits to what Japan can do on its own, it wud be better to consider Japan’s policy based on coming international meetings. Earlier, BOJ Governor Shirakawa said he is watching the forex market with breat interest, however, he also added that he cannot comment in future forex intervention. He was quoted on Reuters when speaking at a news conference after a speech to a group of business leaders in Osaka today that ‘capping JGB purchases enables BOJ to conduct appropriate monetray adjustment; BOJ shud be making use of JGB buying as ample fund supply method n JGB buying if seeb as monetising debt wud boost long-term rates.’