ID :
657352
Tue, 04/11/2023 - 01:43
Auther :
Shortlink :
https://oananews.org//node/657352
The shortlink copeid
New BOJ Governor Ueda Vows to Continue Massive Easing
Tokyo, April 10 (Jiji Press)--New Bank of Japan Governor Kazuo Ueda said Monday that the central bank will continue its massive monetary easing policy introduced by his immediate predecessor, Haruhiko Kuroda.
In a meeting earlier on Monday, Ueda and Prime Minister Fumio Kishida agreed that there was no need to revise any time soon a joint statement that the government and the BOJ issued in January 2013 to strengthen their policy coordination, the new governor told reporters after the talks.
The statement provides the basis for the massive monetary easing and calls on the BOJ to achieve 2 pct inflation.
Ueda told the news conference that achieving the inflation target was "not an easy goal." He said the BOJ aims to attain the goal "as soon as possible," but declined to say when.
He also said that it was appropriate to continue the current yield curve control and negative interest rate policies.
Ueda, an economist and former member of the BOJ Policy Board, is the first scholar in the post-World War II period to become BOJ governor.
The BOJ's massive purchases of Japanese government bonds, launched by Kuroda, have been under fire for distorting long-term interest rates. There is speculation among bond market players that the BOJ may make changes soon.
He will chair his first BOJ policy meeting as governor on April 27-28. He is scheduled to attend a meeting of finance ministers and central bank chiefs from the Group of 20 major economies in Washington Wednesday and Thursday.
END
