Gov’t stresses BOJ’s independence after Ueda’s remarks sway market

Finance Minister Shunichi Suzuki said Tuesday it is up to the Bank of Japan to decide what policy steps it takes after its governor’s remarks signaling an end to the central bank’s negative interest rate policy caused government bond yields to climb.

While Suzuki refrained from commenting on BOJ Governor Kazuo Ueda’s comments made in an interview with a major Japanese newspaper, he stressed the need for the BOJ to work with the government in guiding monetary policy.

“It is up to the BOJ to decide what specific steps it will take,” Suzuki told a press conference after a Cabinet meeting.

“We exp...