According to Japanese Prime Minister Fumio Kishida, “now is not the time” to review an agreement between the Japanese government and the Bank of Japan, as concluded in 2013. Bloomberg reports. The agreement reached was aimed at achieving the target of two per cent inflation.
This is mainly because the Bank of Japan is currently without a leader. “It is too early to reconsider the decision because a new governor has not yet been appointed,” Kishida said in an interview today. So the decision probably won’t come until the new governor is named, after Haruhiko Kuroda steps down in April.
The decision includes an agreement between the Japanese government and the central bank, which has kept inflation at 2% for more than a decade. However, there is currently a lot of speculation about the deal and whether it should be changed. According to Kuroda, inflation is at its highest since 1981, at 4%. However, it has no effect on your determination to continue with monetary relief.
Source: BNR
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