BOJ's Kuroda Vows to Cooperate with Suga Govt

Politics

Tokyo, Sept. 17 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda said Thursday that he will cooperate with the administration of new Japanese Prime Minister Yoshihide Suga, after he did so with the government of Suga's predecessor, Shinzo Abe.

"We'll appropriately conduct monetary policy while communicating and working with (the Suga administration)," Kuroda told a news conference after the BOJ's two-day policy-setting meeting through the day. Kuroda also said that the government and the BOJ will continue joint efforts in the fight against the novel coronavirus.

Kuroda also said, "I will fully serve my (five-year) term" as BOJ governor until April 2023, brushing aside speculation in financial markets that he may step down before the end of the term.

At the Policy Board meeting, the central bank kept its current massive monetary easing policy unchanged while revising up its assessment of the country's economy.

Acting in concert with the former prime minister's Abenomics reflationary policy mix, Kuroda, who was chosen as BOJ governor by Abe, has led the central bank's massive purchases of Japanese government bonds and negative interest rate policy under its ultraeasy policy framework, helping the yen drop against other major currencies and Japanese stock prices go up.

[Copyright The Jiji Press, Ltd.]

Jiji Press