Finance Minister Katayama signals revisions to basic economic policy, says monetary policy should be left to the BOJ

Macro
โดย Reuters·Read original
Summary · why it matters

Finance Minister Satsuki Katayama revealed at a press conference after a cabinet meeting on the 10th that the ruling coalition is working on revisions to the draft of the Basic Policy on Economic and Fiscal Management and Reform, which is seen as one factor behind the rise in long-term interest rates. She referred to Article 3 of the Bank of Japan Act, which respects the BOJ's independence, and stressed that specific methods of monetary policy should be left to the BOJ. Katayama said it is a fact that the draft has been reported as a shock to the market, and stated that the BOJ can conduct monetary adjustments regardless of the government. She also said it is important to maintain confidence in steadily reducing the debt-to-GDP ratio, and that she expects interest rates to rise gradually as the government continues proactive fiscal policy.

Impact on stocks 0