BOJ Kuroda Rules Out Monetary Tightening
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.]