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BOJ Governor Emphasizes Attitudes toward Additional Monetary Relaxation if Risks Increase | NHK News

2019-09-24T10:02:20.597Z

At the meeting held in Osaka City, the BOJ President Kuroda said that while central banks in Europe and the United States are taking steps to cut interest rates in preparation for the economic slowdown, “…



BOJ Governor's Attitude to Decrease Additional Monetary Risk if Risk Increases Emphasis September 24 18:54

At the meeting held in Osaka City, the BOJ President Kuroda said that while the central banks in Europe and the United States are taking steps to cut rates one after another in preparation for an economic slowdown, Is the same stance, ”emphasizing the willingness to make additional monetary easing if the risk increases.

President Kuroda attended a meeting with representatives of local economic organizations held in Osaka on the 24th.

In this context, President Kuroda said, “The growth of global trade volume is clearly slowing against the backdrop of prolonged trade friction between the United States and China. It is a situation that requires more attention to the risk that the downside will spread to domestic prices. "

On top of that, he mentioned that the FRB, which is the European Central Bank and the US central bank, decided to cut interest rates one after another. “The BOJ has the same stance in being aware of risk prevention and preventive measures.” He emphasized his willingness to make additional monetary easing if the risk of losing momentum towards the price stability target of 2% increases.

At the meeting, the local business community commented that the business environment was severe due to the deterioration of the earnings of financial institutions due to the negative interest rate policy of the BOJ.

In response, President Kuroda said, “We are aware that financial institutions are undertaking various efforts in a harsh environment. We want to accept opinions and conduct appropriate policy management.”

Consecutive voices of concern from the local business community

On the other hand, at the meeting on the 24th, there were a series of voices from local business communities concerned about the effects of trade friction between the US and China and the negative interest rate policy of the BOJ.

Among them, President Ozaki of the Osaka Chamber of Commerce and Industry, “There are some voices that orders for semiconductor and liquid crystal related companies are actually decreasing due to prolonged US-China trade friction and deterioration of Japan-Korea relations. I am worried that if the consumption tax rate is raised, demand will be reduced. "

In addition, regarding the negative interest rate policy continued by the Bank of Japan, Chairman Yodogawa of the Osaka Bank Association said, “The profits of local financial institutions will be greatly deteriorated, and we are developing strategies for survival. I would like you to manage it. ”In future monetary policy, we asked for consideration of the impact on the management of financial institutions.

In response, President Kuroda said, “The Kansai economy is very concerned that exports to Asia and the consumption of foreign tourists have made a significant contribution to growth. Recognizing that various measures are being taken in the harsh environment regarding the management of financial institutions, we will continue to accept opinions and conduct appropriate policy management. I said.

Source: nhk

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