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Japan Government Adds Guarantee of BOJ Independence to Economic Policy on July 14

GateNews
Forex
According to Tokyo Television on July 14, Japan's government added a footnote to its revised economic policy framework emphasizing the Bank of Japan's monetary policy independence and independence in interest rate decisions. The move addressed market concerns following the earlier draft, which had sparked yen and Japanese government bond selling. The government stated it would call on the Bank of Japan to "appropriately guide monetary policy to achieve stable price increases," signaling no intent to intervene. The revised framework, Japan's first under Prime Minister Hayashi Yoshimasa's administration, is expected to be submitted for cabinet approval next week.
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