Japan’s Akazawa: Expect modest economic recovery to continue

Japan's Economy Minister Ryosei Akazawa said on Friday that he “expects modest economic recovery to continue, driven by improving employment and wage environment.”

He further noted that there is a “need to carefully monitor downside risks from overseas economies and volatility in financial, capital markets.”

Additional comments

It’s up to the BoJ to decide on monetary policy.

Expect the BoJ to share a basic stance on economic policies with the government.

Market reaction

At the time of writing, USD/JPY is strongly bid near 156.60, up 0.20% on the day.

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