Economic adviser to Shinzo Abe, Koichi Hamada, has had a busy Sunday, appearing on TV with economic revitalization minister Akira Amari:

PM Adviser Hamada Says BOJ Should Ease Until Dollar Hits Y100

Yen slide poses problem for BOJ, Abe adviser says
Central bank will face tricky task gauging ‘timing and speed’ of easing reversal if currency tanks

  • “Abenomics has worked so far on the stock market and the yen just through announcements,” Hamada said.
  • Amari told reporters Sunday that a planned joint statement from the BOJ and the government won’t set a time period for the price goal and won’t call it a “long-term” objective.
  • “The BOJ will do what it has to do to reach a price stability target of 2 percent,” Amari said. “The government has a responsibility to do what it has to do to achieve growth and fiscal consolidation” to prevent a loss in confidence in the nation’s debt, he said, adding that “both sides are coming closer to agreement.”
  • Amari stoked a two-day gain in the yen last week after flagging the danger of the exchange rate getting too weak. He later said his comments had been misinterpreted, saying the yen is still correcting from excessive appreciation. Hamada said Jan. 18 that he wondered whether he should be advising Amari on the issue.

Also:

LDP axes New Komeito’s special tax cut on necessities

USD/JPY is at 90.12.