Takehiko Nakao is a former senior official of the Japanese Ministry of Finance. Former Deputy Minister of Finance for International Affairs (meaning he was responsible for internal intervention decisions). He is being floated as a candidate to replace Governor Haruhiko Kuroda next year when Kuroda’s term ends in April 2023. Reuters has Nakao’s comment: „The BOJ has not been as successful in raising inflation expectations and reducing the real interest rate. I thought that the current framework should be changed sooner rather than later,” he said. „I am not sure about the reason for the latest move, but it may ease the burden on Kuroda’s successor in case of negative shocks from the corrections. „It was good that it reduced the Earlier today, we received more information from the BOJ on the expansion decision on the JGB tolerance group for this December: BOJ December meeting Summary of views: Easy policy should be maintained USD/JPY increased after: USD/JPY higher after the December’s BOJ policy ’tweaking’ meeting. summary The Bank of Japan conducted an unplanned JBG purchase operation. It is part of YCC and implements an open policy. —- The People’s Bank of China will also withdraw a net amount of 183 billion yuan today, bringing this week’s total to about 600 billion yuan. Part of this has to do with ensuring sufficient liquidity for the new year.
