The minutes of the Bank of Japan showed that policymakers agreed on the need to maintain ultra-low interest rates to support a fragile economy, as Reuters reports, and ensure rising inflation was accompanied by higher wages, minutes of their June rate-setting meeting showed on Tuesday.
Key notes
''Some in the nine-member board, however, saw price rises broadening and leading to changes in long-held public perceptions that inflation and wages would not rise much in the future, the minutes showed.
At the June meeting, the BOJ maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid recovery.''
USD/JPY update
USD/JPY has been slightly offered in Tokyo as the US dollar continues to bleed out with 136.20 on the radar as a key pivot area on the bullish correction in the hourly time frame:
