• in general context of debate on global economy
  • FX rates are determined by the markets
  • BOJ is not guiding FX rates in guiding mon pol
  • Will tell G7 that BOJ April easing was for domestic purposes
  • JGB market has been volatile since April easing but is stabilising
  • Global economy gradually improving but must keep watching for risks.

We’re going to be in sound bite hell today methinks.