mercredi 1 avril 2015
'Abenomics' architect says BOJ must ease again on April 30
Posted on 07:51 by nice news
The Bank of Japan must ease monetary policy further at its rate review on April 30 given signs of slowdown in the economy and prices, a ruling party lawmaker and one of the architects of premier Shinzo Abe's "Abenomics" reflationary policies said.
The central bank has various tools available if it were to act again, such as topping up asset purchases or scrapping a 0.1 percent floor it sets on money market rates, said Kozo Yamamoto, a leading expert on monetary policy in Abe's ruling Liberal Democratic Party.
"The economy is at a standstill and prices are seen falling ahead. To do nothing isn't an option for the BOJ," Yamamoto, a close aide to Abe, told Reuters on Wednesday.
"Further monetary easing is absolutely essential to ensure that the Japanese don't slip back to a deflationary mindset."
A vocal advocate of aggressive monetary stimulus, Yamamoto told Reuters last October that the BOJ needed to deploy additional stimulus to ease the pain from a sales tax hike in April. He also said Abe should delay a second tax hike. Both proposals became true
The central bank has various tools available if it were to act again, such as topping up asset purchases or scrapping a 0.1 percent floor it sets on money market rates, said Kozo Yamamoto, a leading expert on monetary policy in Abe's ruling Liberal Democratic Party.
"The economy is at a standstill and prices are seen falling ahead. To do nothing isn't an option for the BOJ," Yamamoto, a close aide to Abe, told Reuters on Wednesday.
"Further monetary easing is absolutely essential to ensure that the Japanese don't slip back to a deflationary mindset."
A vocal advocate of aggressive monetary stimulus, Yamamoto told Reuters last October that the BOJ needed to deploy additional stimulus to ease the pain from a sales tax hike in April. He also said Abe should delay a second tax hike. Both proposals became true
'Abenomics' architect says BOJ must ease again on April 30
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