Friday, September 22, 2023
HomeEconomyJapan panel won't make new 'deal' with BOJ ministers

Japan panel won't make new 'deal' with BOJ ministers

By Kantaro Komiya and Tetsushi Kajimoto

TOKYO (Reuters) – The Japanese government’s top economic policy panel will invite eight economists to its upcoming special meeting, including Economic Regeneration Minister Shigeru Goto, a Japanese inflation expert, said on Friday that the country’s long-term policy would be discussed. “Between the government and the Bank of Japan (BOJ), Goto said, avoiding some speculation about a sudden policy shift in Japan.

A special meeting of the Committee on Economic and Fiscal Policy (CEFP) will invite the University of Tokyo Tsutomu Professor Watanabe, a former Bank of Japan official known for his analysis of Japan’s price trends and monetary policy responses, and other economists.

Goto told a news conference that the meetings did not mean Discussing the Bank of Japan’s strategy for exiting monetary easing or creating a new agreement between the Bank of Japan and the government.

The government has internally considered revising the agreement, officially named 2013 “joint statement” that mandates Japanese policymakers to fight deflation this year, sources told Reuters.

Financial markets are betting on a weaker yen, higher consumer prices and more from the government Political pressure will force the central bank to finally abandon its ultra-loose policy at the end of Governor Haruhiko Kuroda’s year term this April.

Bank of Japan last month Widening its annual yield cap to allow for higher rates, a move that some investors see as a prelude to future rate hikes.

Newly appointed Experts will join Haruhiko Kuroda, cabinet ministers and four regular CEFP attendees from the private sector. Members “will discuss the policy mix between fiscal policy and monetary policy,” Goto said, before the government prepares its annual mid-year policy blueprint in the summer. , “Growth and Distribution Cycle.”

Launch of new meeting should help global economies cope amid global slowdown and Russia’s invasion of Ukraine, Goto said unprecedented difficulty to achieve a virtuous circle of growth and wealth distribution.

Experts also included Nobuhiro Kiyotaki of Princeton University, Toshihiro Nagahama of Dai-ichi Life Research Institute, Motohiro Sato of Hitotsubashi University and Martin Schulz of Fujitsu Research Institute, etc.

Goto also said that he will participate in the World Economic Forum annual meeting in Davos in January 10-19 Explained Japan’s economic and fiscal policy as a panelist.



Please enter your comment!
Please enter your name here


Featured NEWS