Japan to Mention BOJ Independence in Economic Blueprint, Kyodo Says
4 Articles
4 Articles
Japan to mention BOJ independence in economic blueprint, Kyodo says
TOKYO, July 9 (Reuters) - The Japanese government is making arrangements to mention the Bank of Japan's independence in its economic blueprint to clearly show the government has no intention of intervening in monetary policy, Kyodo news agency said o...
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = The draft of this year's basic economic policy by the Japanese government under Sanae Takaichi is intended to curb interest rate hikes by the Bank of Japan, the country's central bank...
At a press conference following a cabinet meeting on the 10th, Minister of State for Economic and Fiscal Policy Minoru Jonouchi reiterated the market's view that the government is trying to restrain the Bank of Japan from raising interest rates. He stated, "The government does not give the Bank of Japan any prior indication of the timing or magnitude of interest rate hikes or cuts."
It was learned on the 9th that the government has begun preparations to include a statement regarding the independence of the Bank of Japan in its draft "Basic Policy Guidelines" for economic and fiscal management. This move comes after the original draft, published in June, was perceived by financial markets as a move to curb the Bank of Japan's interest rate hikes. The aim is to clearly demonstrate that the government has no intention of stron…
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