Monetary policy falls under BOJ jurisdiction, says Japan chief Cabinet secretary Hayashi

<ul><li>Expects BOJ to conduct appropriate monetary policy to sustainably, stably hit price target accompanied with wage hikes</li></ul><p>The key wording in the passage above is "accompanied with wage hikes". That confirms that the government and BOJ are aligned in waiting for the spring wage negotiations next year before opening the can of worms on exiting the ultra easy monetary policy currently.</p>

This article was written by Justin Low at www.forexlive.com.