Coroda Haruhiko, the governor of the Central Bank of Japan, declared that the bank would continue to pursue an expansive monetary policy in order to sustain the national economy and promote wage growth.
The words by Kuroda were made during a symposium that included financial executives from central banks and international organisations yesterday, Saturday, in the American capital, Washington, according to the Japanese Broadcasting Corporation (NHK), which reported them today, Sunday.
Given that basic inflation in Japan is predicted to fall to less than 2% during the upcoming fiscal year, Corude noted that the central bank will maintain its policy of monetary easing.
He continued by saying that while high energy costs were a major contributing factor, the recent spike in prices in Japan would only last a short time.
Coroda emphasised that Japan’s economic condition was distinct from that of the western nations, which are quick to increase interest rates.
He claimed that compared to before the Koruna, the European economy had grown more rapidly. He further said that the Japanese economy had not developed to such heights.
According to Coroda, Japan has not yet had a strong economic expansion that was accompanied by a rise in wages.
Governor of the Japanese Central Bank: We will continue to use cash incentives to promote salaries.
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