BOJ isn’t out of options yet – Japan’s Deputy Chief Cabinet Secretary Seko
By FXStreet FXStreet (Mumbai) – In an interview with Bloomberg earlier today, Japan’s Deputy Chief Cabinet Secretary Hiroshige Seko told that the Bank of Japan (BOJ) hasn’t run out of policy instruments/options in its efforts to spur economic growth.
Key Quotes:
When asked whether BOJ policy making was nearing its limits:
“I don’t think that’s the case. There are other central banks that have introduced lower negative interest rates. This is not the last resort.”
“This doesn’t mean that financial institutions will be offering negative interest rates. If the banks act appropriately, this is not something that will affect ordinary depositors.”
When asked on the inflation outlook:
“It can’t be helped, because it was not foreseeable that oil prices would fall to this extent.”
“The target is being maintained and policies are being introduced to achieve it, so I’m not concerned.”
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Source:: FX Street
