Kuroda, Governor of the Bank of Japan, who is visiting Washington, D.C., held a local press conference after the G20 = 20 major countries' finance ministers and central bank governors meeting, saying, "The rate of increase in Japan's consumer prices is due to high costs. The inflation rate, excluding fresh food, is at the level of 2.8%, but unlike the United States, Europe and many developing countries, it is expected to fall below 2% from next fiscal year onwards. I explained that I would continue with monetary easing,” he said at the meeting, revealing that he showed his stance to continue the current large-scale monetary easing.
Bank of Japan Governor Kuroda ``It is not necessary or appropriate to raise interest rates now''
Governor Kuroda said at a press conference, "I think it's appropriate and correct for Europe and the United States to raise interest rates amid extremely high inflation of 8% and 10%, but I wonder if Japan can't raise interest rates. I think that the Japanese economy has emerged from the corona crisis and is recovering, mainly in consumption and capital investment, but it is also true that the pace of recovery is slower than in the United States, etc., and it is necessary to support the recovery. This doesn't mean that it can't be raised, but considering the most appropriate monetary policy and interest rates for economic prices, it is neither necessary nor appropriate to raise interest rates now."
Finance Minister Suzuki “Watch with a high degree of tension and respond appropriately to excessive fluctuations”
In addition, Finance Minister Suzuki, who is also visiting Washington, D.C. to attend the G20 = meeting of finance ministers and central bank governors of 20 major countries, held a press conference there, saying that the yen exchange rate temporarily fell to $1 for the first time in 32 years. Regarding the depreciation of the yen, which has fallen to the upper half of the 147 yen level, the depreciation of the yen is accelerating again. I would like to take appropriate measures," he said, emphasizing again his intention to closely monitor market movements and respond, including market intervention, if necessary.