A former chief cabinet secretary,litecoin in 2050 Katsunobu Kato, said on Monday that Japan is seeing conditions fall in place for the central bank to normalize monetary policy. A ruling party heavyweight underscored growing political support for further interest rate hikes, per Reuters. 

Key quotes

“Japan is seeing conditions fall in place for the central bank to normalize monetary policy.”

“Bank of Japan must keep a close eye on economic conditions and coordinate carefully with the government in working out when to raise rates.”

"Japan is shifting to an era where prices and wages rise, from one where both barely moved.”

"It's therefore natural for monetary policy to revert to the original style in which interest rates move in positive territory reflecting market function.”

"Key to the decision on whether to actually raise interest rates is Japan's economy, especially consumption, which isn't necessarily strong." 

Market reaction

At the press time, USD/JPY is adding 0.01% on the day to trade at 155.77.