mardi 24 mars 2015
Aso urges BOJ to be mindful of weak-yen risks
Posted on 17:21 by nice news
Japanese Finance Minister Taro Aso urged the central bank on Tuesday to be mindful of the risk of causing sharp, unwelcome falls in the yen when it decides on whether to expand its already radical stimulus program.
Asked in parliament about declines in the yen resulting from the BOJ’s massive monetary easing, Aso said he hopes the central bank guides monetary policy taking into account that volatile exchange rates are undesirable for the economy.
“A weak yen is sometime good (for the economy), while at other times a strong yen could be good… It’s important that the yen moves mildly and steadily in a way reflecting economic fundamentals,” he said.
Some lawmakers have criticised the BOJ’s unexpected decision to expand monetary stimulus last October as having triggered excessive falls in the yen that have boosted import costs and hurt households’ disposable income.
Aso’s remarks underscore a growing view within the government that the BOJ should not persist in hitting its 2 percent inflation target in the coming fiscal year, and give itself more time if the underlying slowdown in inflation is driven mostly by slumping costs of oil.
Aso offered a cautious view on whether Japan should be part of a China-led development bank, saying that Tokyo “does not need to sign in” on joining the bank unless China lays out clear rules on when and what conditions it will provide loans.
China has approached Japan on jo
Asked in parliament about declines in the yen resulting from the BOJ’s massive monetary easing, Aso said he hopes the central bank guides monetary policy taking into account that volatile exchange rates are undesirable for the economy.
“A weak yen is sometime good (for the economy), while at other times a strong yen could be good… It’s important that the yen moves mildly and steadily in a way reflecting economic fundamentals,” he said.
Some lawmakers have criticised the BOJ’s unexpected decision to expand monetary stimulus last October as having triggered excessive falls in the yen that have boosted import costs and hurt households’ disposable income.
Aso’s remarks underscore a growing view within the government that the BOJ should not persist in hitting its 2 percent inflation target in the coming fiscal year, and give itself more time if the underlying slowdown in inflation is driven mostly by slumping costs of oil.
Aso offered a cautious view on whether Japan should be part of a China-led development bank, saying that Tokyo “does not need to sign in” on joining the bank unless China lays out clear rules on when and what conditions it will provide loans.
China has approached Japan on jo
Aso urges BOJ to be mindful of weak-yen risks
Categories: Aso urges BOJ to be mindful of weak-yen risks
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