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Japan to clarify central bank independence in final economic blueprint, media says

  • Japan will add a footnote to its economic blueprint citing the law that protects the central bank’s independence, signaling it won’t interfere in BOJ monetary policy.
  • The final draft asks the Bank of Japan to “guide policy appropriately to achieve stable price rises” while making clear the government won’t direct monetary decisions.
  • An earlier draft spooked markets—triggering yen and bond sell-offs—so the government is tweaking the language to calm investors; the blueprint is expected to be approved next week.
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