The Bank of Japan (BOJ) has modified its stimulus measures to ease the transition away from an unconventional monetary policy when Governor Haruhiko Kuroda retires in April, former top currency diplomat Takehiko Nakao told Reuters in an interview.
Prolonged monetary easing has amplified side effects such as blunting market functions, excessive yen weakening and looser fiscal discipline, at the expense of increases in real income, said the former vice finance minister for international affairs.
"I am not sure about the reason for the latest action, but it may have an effect of alleviating burden for whoever succeeds Kuroda regarding all the negative shocks stemming from adjustments.
As the top currency diplomat, he intervened heavily to stem yen strength when the currency traded around 75 yen in 2011 in the aftermath of an earthquake, tsunami and nuclear crisis.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Japan ex-top finance official Nakao says BOJ adjustments will smooth change of governorThe Bank of Japan (BOJ) has modified its stimulus measures to ease the transition away from an unconventional monetary policy when Governor Haruhiko Kuroda retires in April, former top currency diplomat Takehiko Nakao told Reuters in an interview.
Weiterlesen »
Japan’s Ex-MoF Nakao: BoJ should alter current easing policy framework as side effects mountJapan’s former Top Currency Diplomat Takehiko Nakao said on Tuesday, the Bank of Japan (BoJ) should alter current easing policy framework as side effe
Weiterlesen »
BOJ Kuroda dismisses near-term chance of exiting easy policyBank of Japan (BOJ) Governor Haruhiko Kuroda on Monday brushed aside the chance of a near-term exit from ultra-loose monetary policy, although markets and policymakers are signalling an increasing focus on what comes after Kuroda's tenure ends.
Weiterlesen »
BOJ Kuroda: Widening of yield band not step towards easy policy exitBank of Japan (BOJ) Governor Haruhiko Kuroda said on Monday the central bank's decision last week to widen the allowance band around its yield target was 'absolutely not a first step' towards an exit from ultra-loose monetary policy.
Weiterlesen »
Japan PM Kishida: Premature to say if government-BOJ statement will be revisedAfter the rejection of monetary policy tightening by Bank of Japan (BOJ) Governor Haruhiko Kuroda, Japanese Prime Minister Fumio Kishida also crossed
Weiterlesen »
GBP/JPY aims to recapture 161.00 as BOJ’s Kuroda sees no easy policy exitThe GBP/JPY pair has extended its gains to near 160.78 after rebounding from near the psychological resistance of 160.00 in the Asian session. The cro
Weiterlesen »