Kuroda’s Term End Not to Mean Policy Change: BOJ’s Nakamura

Economy

Matsumoto, Nagano Pref., Dec. 7 (Jiji Press)--A Bank of Japan policymaker said on Wednesday that it is too early for the BOJ to be changing its current monetary policy as its price stability target of 2 pct has yet to be achieved, with inflation in the services sector remaining low.

Speaking at a press conference in the central city of Matsumoto, Nagano Prefecture, Toyoaki Nakamura, a member of the BOJ’s Policy Board, indicated that the end of Haruhiko Kuroda’s term as BOJ governor next April will not affect the central bank’s decision on whether to change its policy.

The matter “should be considered based on changes in the financial and economic environments,” Nakamura said.

Nakamura said that the price stability target is a “barometer” for assessing changes in the economy and firms’ wage structures.

“It’s not as simple as revising our policy based solely on wage increase rates from ‘shunto’ (annual labor-management) negotiations,” he noted.

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