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6/27, 3:44 AM (Source: TeleTrader)
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BoJ insists on easy monetary policy

The Bank of Japan (BoJ) will continue to implement monetary easing "in order to achieve the price stability target, accompanied by wage increases, in a sustainable and stable manner," according to the summary of opinions from the bank's latest monetary policy meeting released on Monday.

Unlike the United States and Europe, the domestic job market will not be able to trigger wage rises, meaning that more monetary stimulation for the Japanese economy is needed, it was said in the summary.

The "economy is on its way to recovery from the pandemic and has been under downward pressure stemming from the rise in commodity prices," while the recently-increasing inflation will be "only temporary" as it is attributed to the higher import prices, BoJ policy board members stated, warning that "it is necessary to pay due attention to developments in financial and foreign exchange markets."

Baha Breaking News (BBN) / MS