Japan Chief Cabinet Secretary Matsuno comments crossing:

  • We need to discuss the joint statement with BOJ with new governor
  • Too early to comment on the handling of government-Bank of Japan joint statement

This agreement is that to achieve 2% inflation ASAP (that's a paraphrase but is the gist of it). Over past months chatter has centred on removing the ASAP (again, paraphrased here for brevity), which would give the BOJ scope to reduce policy accommodation, perhaps by first dropping its YCC measures.

Yen is extremely skittish ahead of today's Bank of Japan meeting:

BOJ policy meeting today - a change can't be ruled out given December's surprise - preview

Earlier headline on this is here: BOJ is considering a 6-month extension of its pandemic economic re

Its Bank of Japan Governor Kuroda's final meeting.