Japan’s Goto: Council on economic and fiscal policy special sessions to be held several more times

Japan Economy Minister Shigeyuki Goto is expected to speak at the Davos meeting, noting that the Council on economic and fiscal policy special sessions are to be held several more times and that there is no plan to compile a report on the session's outcome.

Additional comments

Economy takes priority over fiscal reform near term, trying not to lose confidence in public finances in long run.

Global economy is shifting towards new policy, as seen in Yellen's calls for modern economy policy to shift away from conventional supply-side economics.

Market reaction

USD/JPY is holding its corrective upside intact at around 128.40, still adding 0.40% on the day.