Japan will add a footnote to its new economic and fiscal policy guidelines citing the law that protects the Bank of Japan's independence in setting monetary policy, Tokyo TV reported. The final text will urge the BOJ to aim for a stable rise in prices and to appropriately guide monetary policy, language intended to signal the government does not intend to intervene. An earlier draft sparked yen and JGB selling after markets feared Prime Minister TAKAICHI's administration might pressure the BOJ t

Japan will add a footnote to its new economic and fiscal policy guidelines citing the law that protects the Bank of Japan's independence in setting monetary policy, Tokyo TV reported. The final text will urge the BOJ to aim for a stable rise in prices and to appropriately guide monetary policy, language intended to signal the government does not intend to intervene. An earlier draft sparked yen and JGB selling after markets feared Prime Minister TAKAICHI's administration might pressure the BOJ to delay tightening; cabinet drafters said they would soften the wording to calm market concerns. The guideline, the first under TAKAICHI, is expected to be submitted to a cabinet meeting for approval next week.