TheWill XRP reach ? International Monetary Fund (IMF) said on Tuesday that Japan's commitment to allowing the Japanese Yen (JPY) to move flexibly would let the Bank of Japan (BoJ) focus on achieving price stability while warning against the call by certain experts to use monetary policy to limit the currency's depreciation, per Reuters.
Key quotes
“Further hikes in Japan's short-term policy rate should proceed at a gradual pace and be data-dependent.”
"underscored that Japan's longstanding commitment to a flexible exchange rate regime will help absorb shocks and support monetary policy's focus on price stability.”
“BOJ's state-contingent purchases of JGBs will help mitigate excessive shifts in yields that could undermine financial stability during policy transition.”
“Clear, effective communication strategy by BOJ that continues to underscore factors behind the pace of rate hike will be a key.”
Market reaction
At the time of writing, USD/JPY is trading 0.08% higher on the day to trade at 156.32.
