Japan Finance Minister expects BOJ to work closely with govt

Reuters reported that Japanese Finance Minister Shunichi Suzuki said on Friday he expected the central bank to guide policy appropriately in close coordination with the government, taking economy, prices and financial conditions into account.

"Our joint efforts have produced major results, creating a situation where the economy is no longer in deflation," Suzuki told reporters.

Key notes

• Monetary policy specifics up to BoJ to decide.
• Expects BoJ to guide policy appropriately taking economy into account.
• Govt will strive to achieve primary balance target in fiscal year 2025.

USD/JPY update

Unmoved by the comments, USD/JPY is at 136.31, compared with 136.82 as of Thursday's Tokyo stock market close.

Today's policy decision is the last scheduled one for Bank of Japan Gov. Haruhiko Kuroda, whose term is set to expire on April 8.