Bank of Japan governor calls for soft monetary policy to remain

After completing the next meeting of the Japanese Central Bank, its head Haruhiko Kuroda made a speech. He said there is currently no reason to take action to tighten the bank’s policy. Inflation is showing growth. In April, it can reach the level of 2%. But this acceleration in consumer price growth will only be temporary, linked to higher commodity prices. Haruhiko Kuroda said the country’s economy is only halfway through the recovery from the crisis caused by the pandemic. In this regard, it is too early to make a decision on tightening the monetary policy. The head of the Japanese Central Bank considers it necessary to take a package of measures to reduce gasoline prices. He also stressed that a weak national currency is not a negative factor for the country’s economy. Haruhiko Kuroda noted that the military conflict in Ukraine creates risks for the entire world economy. Negative trends can manifest themselves in different directions.

Source: xCritical.com