“There is no immediate need to revise the Japanese government’s joint statement.”
(Seoul = Yonhap Infomax) Reporter Yoon Si-yoon = The New Bank of Japan (BOJ) Governor Kazuo Ueda announced that Japan is not currently in the phase of raising interest rates and will maintain its current monetary easing policy.
Kazuo Ueda, the new president of BOJ
He emphasized that revising the statement jointly with the Japanese government was also premature.
According to foreign media such as the Nihon Keizai Shimbun and Dow Jones on the 10th (local time), President Ueda held his first press conference after taking office and said, “Now we have to wait for an impact the policy adjustment last December. year.”
Therefore, it is appropriate to maintain yield curve control (YCC) and negative interest rates as well, Ueda said.
Regarding the possibility of reviewing the current monetary easing policy of the BOJ, he added that “it can be reviewed in a long-term and comprehensive way”, but he also added the need to consider economic uncertainty.
Governor Ueda said he would try to reach the goal of ‘sustainable and stable 2% inflation’ as soon as possible, but it was not an easy goal.
Before the press conference, President Ueda met with the Prime Minister of Japan, Fumio Kishida, at the Prime Minister’s official residence and agreed to keep the joint statement between the BOJ and the Japanese government for the time being.
In 2013, the Japanese government and the BOJ issued a joint statement calling for an inflation target of 2% and unlimited quantitative easing.
Former Prime Minister Shinzo Abe emphasized cooperation between the central bank and the government, and former BOJ Governor Haruhiko Kuroda used this as a basis for aggressive monetary easing.
The first financial policy decision meeting led by Governor Ueda was scheduled for the 27th and 28th.
syyoon@yna.co.kr
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This article was submitted at 20:11, 2 hours earlier on the Infomax financial information terminal.
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