Over the weekend the Japanese Finance Minister (and all-round LDP enforcer) Aso said an accord between the new government and the BOJ was not necessary “As long as there’s talk (on monetary policy) at the council meetings” (he is referring to the Council of Economic and Fiscal Policy). This statement was somewhat confusing, it was read by some (quite reasonably) to show an element of back-pedalling on the new government’s commitment to their previously loudly-hailed deflation-fighting policies.
Late in the Japanese day yesterday, however, Chief Cabinet Secretary Yoshihide Suga said that an accord would be concluded in time for the next BOJ meeting (scheduled for January 21 and 22).
