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- BoJ’s Adachi: Difficult to end negative rates until positive wage-inflation cycle begins
BoJ’s Adachi: Difficult to end negative rates until positive wage-inflation cycle begins
Bank of Japan (BoJ) board member Seiji Adachi is back on the wires in early European trading on Wednesday, noting that it is “difficult to end negative rates until positive wage-inflation cycle begins.”
Key quotes
Positive wage-inflation cycle has not happened yet
But if chances of it happening increases, then we can start discussing exit strategy.
Don't need to necessarily wait for it to turn positive to debate exit from negative rates.
Market reaction
USD/JPY has picked up fresh bids on the above comments to rise again toward 147.50. The pair trading 0.18% lower on the day at 147.20, as of writing.
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