Japan's Economy Minister Gets Scolded for BOJ Rate Hike Comment: When a Cabinet Member Crossed the Central Bank Independence Line
Japan's Economy Minister Akazawa was reprimanded by PM Takaichi and Finance Minister Katayama for suggesting BOJ rate hikes as a policy option on national TV. We explain why this crossed Japan's central bank independence red line, amid surging oil prices, a weak yen at 159, and the upcoming April 27-28 BOJ meeting.