Japan economy minister Akazawa spoke late on Tuesday, ICYMI:
- weak yen can push up prices through higher import costs
- if wages are not rising as much, that would push down real household income, depress private consumption
Akazawa has been reading macro economic textbooks by the sound of it.
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The yen has been pressured since the election, with the prospect of the Bank of Japan putting further rate hikes on hold. There appears to be some political pressure to do so:
- Japan DPP head says BOJ should avoid big policy change now b/c real wages standing still
- Japan economy minister Akazawa
This article was written by Eamonn Sheridan at www.forexlive.com.
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Japan economy minister Akazawa yen
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