BOJ official dismisses need to withdraw ultra-easy policy

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FILE PHOTO: A man wearing a protective mask stands in front of the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon
FILE PHOTO: A man wearing a protective mask stands in front of the headquarters of Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Japan's economic and price conditions do not allow the central bank to withdraw its massive monetary stimulus, a senior Bank of Japan official said on Friday.

"Unless there's risk of second-round effects, such as (an excessive) rise in wages, it's inappropriate to respond with monetary tightening," Seiichi Shimizu, head of the BOJ's monetary affairs department, told parliament.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

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