The Strategist

Japanese central bank rules out interest rate hike

10/14/2022 - 10:11

Governor Kuroda of the Bank of Japan argued that raising interest rates at this time would be unwise.

Haruhiko Kuroda, governor of the Bank of Japan, stated that an increase in interest rates would be inappropriate given the dynamics of prices and the status of the Japanese economy.

Following the COVID-19 epidemic, Kuroda noted at a news conference that "Japan's economy is healing its wounds, but its recovery is delayed compared to countries like the United States." Kuroda was speaking after the G20 meeting of financial leaders in Washington.

Therefore, he continued, "it is vital to continue supporting the economy" with an extremely accommodative monetary policy.