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This was the last meeting chaired by outgoing governor Haruhiko Kuroda, whose term will expire ten years later on April 8. With the BOJ’s decision, short-term interest rates will remain at minus 0.1 percent, while long-term rates will remain around zero. The yen weakened significantly against the dollar as market circles await the central bank’s decision to keep its course.
Kuroda’s appointed successor, Kazuo Ueda, also wants to continue this route for now, in his own words, to stimulate the economy. The 71-year-old economist is seen by experts as the “intellectual father of loose monetary policy in Japan”. Marketers will now be watching with interest how and when Ueda plans to normalize its monetary policy. Prior to being nominated by the government, Ueda had warned against rushing out of Kuroda’s years of loose monetary policy.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
