Japan's Finance Minister Katayama says must communicate with JGB market in run-up to budget compilation, and we hadn't done that
Japan's Finance Minister admitted poor communication with JGB markets during budget compilation. While yields reach multi-decade highs, the government focuses on pension fund shifts and monitoring FX volatility amid global tensions.
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Says: Believes the government's relationship with the BoJ has been smooth. Very good that final version of the Economic Blueprint has won market understanding. Not currently considering JGB buybacks. Global bond markets have been affected by various factors such as US monetary policy, Ukraine and Middle East situations. Weak yen can have both merits and demerits. Won't comment on specific FX levels and won't comment on potential intervention. No change in stance that we're ready to respond on Forex as needed.
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