Japan’s Shibayama: BOJ should stand ready to hold emergency meeting if market moves become excessive

Japanese PM Abe’s adviser Shibayama crossed the wires via Reuters last minutes, noting that they are ready to respond to excessive market moves.

Key Quotes:

Should not rule out solo fx intervention in the case of excessive yen rises

BOJ should stand ready to hold emergency policy meeting if market moves become excessive

Further easing should take into account the fact that negative rates caused a bigger than expected impact