BOJ Does Not Consider Tapering Appropriate: Kuroda
17:52 JST, May 13, 2022
Tokyo, May 13 (Jiji Press)—Bank of Japan Governor Haruhiko Kuroda on Friday voiced his reservations about possibly tapering the Japanese central bank’s monetary easing measures.
The BOJ “does not consider that scaling back the current monetary easing is appropriate,” he said at a lecture organized by Jiji Press-affiliated Research Institute of Japan, rejecting the notion that the BOJ may switch to monetary tightening policies similar to those of the U.S. Federal Reserve and the European Central Bank.
He said that the BOJ considers maintaining its current policy of guiding the yield on the benchmark 10-year Japanese government bond issue to around zero pct, with wiggle room of 0.25 percentage point, as appropriate.
“Japan’s economy is in the process of recovering from a significant downturn caused by the (spread of) the novel coronavirus,” Kuroda noted.
He, however, warned of downside risks “for the time being” brought on by Russia’s invasion of Ukraine.
“Given current developments in economic activity and prices in Japan, the BOJ considers it necessary to support economic recovery from the impact of COVID-19 with aggressive monetary easing,” he concluded.
"BUSINESS" POPULAR ARTICLE
Japan’s Economy Contracts as Demand Wanes
Japan Railway Operators Eye Net-zero CO2 Emissions Via Hydrogen Fuel Cell Trains
3 Japan Railway Firms to Introduce System to Pay Fare by Tapping Credit Card at Ticket Gates
Department Stores Stuff 2024 Lucky Bags with Family-friendly Experiences
Suntory’s Hibiki Whiskey Price Planned to Increase by 125％; Demand Higher than Production
JN ACCESS RANKING
- Japan’s Economy Contracts as Demand Wanes
- AI-generated Child Porn Floods Japan-based Website (Update 1)
- Bears Sighted in Tokyo Suburbs, Including near Mt. Takao (Update 1)
- Tokyo Dips below 10 C; Temperatures Fall in Japan
- Tsunami observed in Japanese coast after the earthquake near Philippines (UPDATE2)