WASHINGTON: Japan's new central bank Governor Kazuo Ueda gave a clear message to policymakers gathered for global finance meetings here over the last week: The country will remain a dovish outlier by keeping interest rates ultra-low - at least for now. Since taking the helm a week ago, Ueda has dropped som
WASHINGTON: Japan's new central bank Governor Kazuo Ueda gave a clear message to policymakers gathered for global finance meetings here over the last week: The country will remain a dovish outlier by keeping interest rates ultra-low - at least for now.
Japan's inflation, now around 3 per cent, will slow back below the BOJ's 2 per cent target later this year on falling import costs, Ueda told Thursday's bigger gathering of ministers from the Group of 20, in explaining his plan to keep monetary policy ultra-loose for now. Uncertainty over the world economy, highlighted by the International Monetary Fund's stark warning of global recession risks on Tuesday, adds reasons for Ueda to move slowly and cautiously.
"We'll discuss all options at each of our policy meetings," Ueda said on Monday, when asked about the chance of adjusting the BOJ's guidance committing to keep interest rates ultra-low.
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