Central Banks
BOJ Hearings Suggest Ueda Will Stick to Kuroda Line For Now
- Governor nominee continues to back monetary easing in diet
- Ueda says benefits of easing outweighs policy side effects
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Bank of Japan Governor nominee Kazuo Ueda said underlying inflation needs to show a major shift to change the course of monetary policy, a comment that suggests he won’t be seeking immediate change if he is approved to helm the central bank.
At the second parliamentary hearing in the confirmation process, Ueda said the benefits of the BOJ’s stimulus outweighs its side effects, again reinforcing the view that he isn’t seeking a quick move away from a decade of massive easing should he assume his role in April.