Ex BOJ Mizuno: Counterproductive if Japan doesn’t act on its words in signalling fx intervention

• Japan intervention may gain understanding if yen rises on factors it can’t control
• Increasing outright govt bond buying not an option for the BOJ

Former BOJ board member Mizuno says Japanese currency intervention may gain some understanding in the global community if it is aimed at curbing yen gains which are out of Tokyo’s control.

Mizuno says Japan needs to get serious about arresting the yen’s strength and should act on its warnings of intervention.