Bank of Japan Governor: Mortgages Not Expected to Rise Significantly After End to Negative Interest Rate Policy
20:51 JST, March 21, 2024
The Bank of Japan does not expect lending rates, including those for house mortgages, to rise substantially even after the end of its negative interest rate policy, central bank Governor Kazuo Ueda told the upper house Finance and Monetary Affairs Committee on Thursday.
Ueda was speaking in the Diet for the first time after the BOJ decided to end its massive monetary easing measures at a policy meeting on Tuesday.
“The increase in short-term interest rates due to the policy change will be limited to about 0.1%. The monetary easing environment will remain for the time being,” Ueda said, indicating that interest rates are expected to remain low in the future.
The BOJ plans to continue its purchases of Japanese government bonds at the same level as before. “The BOJ’s outstanding JGB holdings will generally remain unchanged,” Ueda said.
"Business" POPULAR ARTICLE
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
-
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’