Tokyo, 05 March, /AJMEDIA/
It’s not yet the time to consider an exit from the Bank of Japan’s ultraloose monetary policy, said Hiroshige Seko, the ruling Liberal Democratic Party’s Upper House secretary-general.
Any revamp to the decade-old inflation accord between the government and the central bank would be disruptive for markets, said Seko, a senior member of the political faction that was led by former Prime Minister Shinzo Abe. “There’s no reason to change it,” he said during an NHK talk show on Sunday.
The Bank of Japan is in the middle of leadership transition, with Kazuo Ueda set to take over from Haruhiko Kuroda, who sought to reach the 2% inflation goal by pouring stimulus into the financial system. Recent testimony by Ueda in parliamentary hearings suggests that he will stick to the same course for monetary policy and work to ensure a smooth continuation of policy as governor.
