TOKYO, Feb 28 (NNN-NHK) – Bank of Japan (BOJ) chief nominee, Kazuo Ueda, yesterday reiterated his intention to continue the central bank’s current monetary easing policy.
Ueda told an upper house parliamentary hearing that, it is appropriate to maintain the easing policy, while exercising creativity, depending on the situation, adding that, “at this moment, the positive effects outweigh the negatives.”
Ueda was facing his second confirmation hearing, after a session in the lower house on Friday, where lawmakers grilled him on concerns over the central bank’s unorthodox monetary policy, under current governor, Haruhiko Kuroda.
In a question-and-answer session yesterday, when asked about the effectiveness of the central bank’s ultra-easy monetary policy, Ueda noted that, the current easing policy, initiated by outgoing BOJ Governor, Kuroda, 10 years ago, has had more benefits than side effects.
The 71-year-old academic showed his eagerness to make his five-year term as BOJ governor, the period to “complete the (central bank’s) mission to achieve price stability.”– NNN-NHK
