BoJ’s Sakurai rules out hike in bond yield target for now
SAGA (Japan): Bank of Japan (BoJ) board member Makoto Sakurai has ruled out the chance of an imminent hike in the central bank’s bond yield target.
He also stressed the need to maintain its massive stimulus programme to prop up inflation and fend off overseas economic risks.
Sakurai said rising protectionist sentiment in the world was among risks to Japan’s economic outlook, warning that protectionism would disrupt supply chains, dent trade and hurt prospects of a sustained global recovery.
With Japan’s economy recovering steadily, policymakers should not seek to “forcefully” stimulate short-term demand, said Sakurai, shrugging off the need to deliver additional monetary stimulus measures any time soon.
“The economy is in good shape and the government’s fiscal spending plans are being implemented now,” Sakurai told a news conference after meeting business leaders, here, yesterday.
“Maintaining the current fiscal and monetary stimulus measures would be enough.” Reuters