Japanese Foreign Minister Yoshimasa Hayashi (pictured) stated on Tuesday that the Bank of Japan (BoJ) and the government will closely coordinate on monetary policy. Hayashi emphasized that while the specifics of monetary policy are up to the BoJ, both entities will work together to achieve their inflation target.
Earlier this month, BoJ Governor Kazuo Ueda hinted at a possible interest rate hike in July. Addressing parliament, he said the central bank's decision will depend on economic, price and financial data.
The BoJ is set to announce its next rate call on Wednesday.
