Japan’s Kishida backs Bank of Japan’s ultra-loose policy despite Yen plunge

© Reuters. FILE PHOTO: Japan’s Prime Minister Fumio Kishida adjusts a mask while attending a news conference in Tokyo, Japan April 26, 2022. David Mareuil / Pool via REUTERS

(Reuters) – Japanese Prime Minister Fumio Kishida signaled support for the Bank of Japan’s super-loose monetary policy in an interview with the Financial Times and said the central bank needed to keep it policy-friendly. current until wages increase.

Referring to BOJ Governor Haruhiko Kuroda’s 10-year term, which ends next April, Kishida said, “At the moment, I don’t think about shortening his term.”

“I will look at the expected economic conditions for April next year to consider the right person for the job,” the report quoted Kishida as saying.

The BOJ remains an outlier in the global wave of central banks tightening monetary policy to combat soaring inflation, which has pushed the yen to a 24-year low against the dollar.


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