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Japan’s Economy Minister Ryosei Akazawa stated on Tuesday that the country’s economy is expected to recover at a moderate pace, though policymakers remain wary of external challenges.
Akazawa pointed to potential headwinds, including US trade policies and the rising costs of energy and food, which could dampen household sentiment and curb consumer spending. He also stressed the need for exchange rates to align with economic fundamentals while reaffirming that monetary policy decisions remain the sole responsibility of the Bank of Japan (BoJ).
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Market Reaction
As of press time, the USD/JPY pair is down 0.42% on the day, trading at 146.65.
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