Nikkei reports that Japan PM Kishida will review price target accord with next BOJ chief

We've been posting on this for months now while its moved from hints and speculation and entered into the 'done deal' realm.

Nikkei:

• The Japanese government must talk with the next Bank of Japan governor about whether to rework the joint accord setting a 2% inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term target, Prime Minister Fumio Kishida said on a radio program that aired Tuesday.
• "We'll build a relationship of trust with the new governor and confirm how we will work together," Kishida said.
• The radio program was recorded Dec. 19, just before the BOJ's surprise decision to widen its target band for long-term interest rates in a move that many market watchers see as laying the groundwork for a pivot to less accommodative policy.

Bank of Japan Governor Kuroda's term finishes up on April 8. A new agreement between Japan's government and the Bank of Japan would pave the way for a dilution of the current ultra-easy BOJ monetary policy and would be yen-supportive at the margin.

USD/JPY update:

Japanese markets open today after their NY break.