BOJ Kuroda Rules Out Monetary Tightening

Economy

Tokyo, June 6 (Jiji Press)--Bank of Japan Governor Haruhiko Kuroda on Monday ruled out the possibility of the Japanese central bank tightening its superloose monetary policy.

In a speech delivered on the day in Tokyo, Kuroda said, "Japan's economy is still on its way to recovery from the (COVID-19) pandemic and has been under downward pressure from the income side due to rising commodity prices."

"In this situation, monetary tightening is not at all a suitable measure," he added.

On the recent rise in prices in the country, Kuroda noted that Japanese households' tolerance of price hikes has gone up amid companies' aggressive price-setting stance.

"This can be regarded as an important change from the perspective of aiming to achieve sustained inflation," he said.

[Copyright The Jiji Press, Ltd.]

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