Remarks by Japan finance minister, Shunichi Suzuki

  • Kishida told me to stick to bold monetary easing, flexible fiscal spending
  • The goal is to put a decisive end to deflation
  • Told to make use of low interest rate environment for utilising FILP programmes

A message to Suzuki is essentially a message for Kuroda & co. at the BOJ, so that just means we won't be seeing any drastic changes to policy whatsoever.

In any case, as mentioned many times before, the pandemic has just served to exacerbate the underlying vulnerabilities in the Japanese economy and not bring about fresh ones so that underscores the predicament the BOJ is put under at the moment.