SNB move caused JPY to rise – Japan’s Amari

FXStreet (Mumbai) - Japan’s economic minister Akira Amari said today that the Swiss National Bank’s (SNB) decisions and the talk of European Central Bank’s (ECB) QE pushed pushed the Yen higher.

However, Mr Amari expressed confidence that the turbulence caused by SNB’s decision and the ECB’s tentative QE program is likely to be temporary.

Commenting on the rising threat of deflation due to falling energy prices, Mr Amari stated that the drawbacks of cheap oil are not restricted to Japan, indirectly hinting at the fact that most of the advanced nations face the threat of disinflationary pressures building up due to lower energy prices.