More from Japan finance minister Suzuki: Need conviction Japan won’t go back to deflation

Japan finance minister Suzuki:

• Important to keep proper debt management through close dialogue with markets
• Reduction in BOJ’s JGB purchases would increase need for financial institutions to buy JGBs, raising importance of dialogue with markets
• Correction in yen's weakness could push down import prices, tame consumer prices
• Need conviction that Japan won’t go back to deflation before announcing complete exit from deflation

Earlier:

• Japan finance minister Suzuki closely watching stock prices, FX movements

Also:

• Japan chief cabinet secretary Hayashi says equity prices are determined in the market

I'm sure Japanese authorities were not expecting such a meltdown in their stock markets. Sure, they accepted a higher yen would sap some of the strength but it appears they are getting more than they bargained for. They are scrambling to restore confidence.

That comment from Suzuki:

• Need conviction that Japan won’t go back to deflation before announcing complete exit from deflation

Sounds to me like an assurance that rate hikes are over for now. I'm sure they are anyway, but Suzuki sounding a wee bit despearete here.

Mind the gaps