6 August
BOJ proceeds to ease the country’s monetary policy
Bank of Japan (BOJ) board member Toyoaki Nakamura commented Thursday on the economic environment in the country. The central bank plans to continue monetary easing as the current inflation rate driven by rising energy prices, isn’t expected to be persistent.
“As estimated by the economic performance, there has been a price surge in certain goods due to high import costs. However, this isn’t relevant for other consumer goods. Measures aimed at reducing the costs of particular categories, rather than pursuing monetary tightening, are considered the most effective,” mentioned the board member.
Mr. Nakamura said the current inflation has also affected Japanese consumer expectations. Previously, price hikes were thought to be a stereotype.
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