Japan's Matsuno: Monetary policy falls under the jurisdiction of the BOJ

<ul><li>BOJ decision meant to enhance flexibility in forming long-term interest rates smoothly</li></ul><p>They don't want to be seen overstepping but as is tradition in Japan, the government and BOJ are more or less one entity. Yes, there is a segregation in responsibilities but in terms of policy direction, they always have to be aligned before having to go out to communicate anything to markets and the public.</p>

This article was written by Justin Low at www.forexlive.com.