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“Frank discussions are needed with the US on Japan’s defense burden, said the ruling Liberal Democratic Party (LDP) Policy Chief Fumio Kishida in a statement on Wednesday.

Additional comments

“The issue can’t disrupt  the relationship.”

“Japan must take a strong stance against china’s moves to unilaterally change the regional situation.”

“Economic environment to remain tough for some time, making it hard for most nations to raise interest rates.”

“For now, hard to roll back fiscal, monetary stimulus measures deployed under “Abenomics”.”

“For the next few years, japan must take bold fiscal steps as needed to combat pandemic.”

“When other countries start to normalise policy, Japan must not be late in following suit and seek an exit strategy for monetary, fiscal policy.”

Market reaction

USD/JPY is posting small gains just above the 106 level, keeping its range play intact amid a recovery in the US dollar across the board. The above comments have little to no impact on the yen.

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