Nakagawa is a member of the Bank of Japan monetary policy board.
Nakagawa spoke earlier, clearly indicating the rate hikes are not done:
BOJ’s Nakagawa speaks on one-sided yen fallsUSD/JPY has dropped under 142.00 on BOJ Nakagawa comments
Main points, in summary:
Bank of Japan will
continue to raise interest rates if inflation moves in line with
its forecastlast month’s market rout has not derailed its
plan to hike steadilythe BOJ must take into account the impact
that such market moves could have on the outlook for the economy
and prices when considering whether to hike rates furtherreal interest rates are currently very low, we will
adjust the degree of monetary support, from the standpoint of
sustainably and stably achieving our 2% inflation target, if our
economic and price forecasts are met
USD/JPY dropped to near 141.50 and is currently around 141.70.
This article was written by Eamonn Sheridan at www.forexlive.com.
