Japan to monitor FX markets more closely

Growth strategy: A man walks past the BoJ building in Tokyo. Some analysts say the BoJ could hold an emergency meeting to expand stimulus further if its tankan business survey on July 1 confirms worsening of the domestic economy and prices. — Reuters

TOKYO: Japanese Prime Minister Shinzo Abe has instructed Finance Minister Taro Aso to watch currency markets “ever more closely” and take steps if necessary, in the wake of Britain’s historic vote to leave the European Union.

Abe made the comments at an emergency meeting with Aso and Bank of Japan (BoJ) deputy governor Hiroshi Nakaso as some analysts speculate the central bank may ease if it calls an unscheduled policy review before its planned July 28-29 gathering.