Monetary policy will remain at the Bank of Japan, I hope for a detailed explanation of the policy objectives – Prime Minister Ishiba

On the 8th, Prime Minister Shigeru Ishiba reiterated his view that the specific methods of monetary policy are left to the Bank of Japan, and said, “I intend (the Bank of Japan) to provide a detailed explanation of the -its policy objectives.” ‘ Photo: Prime Minister Ishiba delivers a speech expressing his views at the National Assembly on the 4th (2024 Reuters / Kim Kyung-Hoon)

TOKYO (Reuters) – Prime Minister Shigeru Ishiba reiterated his view on the 8th that the specific methods of monetary policy will be left to the Bank of Japan, saying, “I would like the Bank of Japan to give a detailed explanation of their policy.” goals.” I’m looking forward to it.” At the afternoon plenary session of the House of Councillors, he answered a question from Representative Hitoshi Asada (Japan Renewal Society, Society for Free Education).

When asked whether Japan’s economy is currently in a state of deflation or inflation, he replied, “Right now, the consumer price index is rising moderately, so we are not in inflation, but I don’t think it will go back to inflation again. “We cannot say that,” he said, repeating the government’s policy of prioritizing overcoming inflation.

When asked about his assessment of Abenomics, Prime Minister Ishiba pointed out that while it had some effects such as overcoming inflation and increasing employment, it also left issues such as slow growth in gross domestic product per capita ( GDP) and consumption.

Representative Asada also asked about the Bank of Japan’s views on disposing of exchange-traded funds (ETFs) and government bonds held by the Bank in connection with monetary policy normalization, but was not specifically mentioned in the response. .

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