Hideo Hayakawa, a former director at the bank, in an interview.
- A big factor that will spur the BOJ to change policy is the weakening of the yen, Hayakawa said.
- While the BOJ has repeatedly said the yen is positive for the economy overall, the impact is close to 50/50 and households’ discomfort is set to grow further as inflation picks up in Japan, too, said Hayakawa, who left the bank in 2013.
- “It’s too naive for the BOJ to say a weak yen is good when the government is taking measures to address price gains and capping gasoline prices,” said Hayakawa. “An overwhelming majority of Japanese aren’t welcoming the weak yen.”
Bank of Japan Governor Kuroda has said, over and over, that he'll be sticking with loose policy.
Anyway, this guy thinks not. You know what they say about opinions though. Link here for more.
USD/JPY update:
