KOCHI (Japan), Feb 9 — Bank of Japan deputy governor Hiroshi Nakaso said today risks to the country’s economic and price outlook were skewed to the downside, signalling the bank’s resolve to maintain its massive monetary stimulus.
“I believe it’s most important that the BOJ persistently pursue powerful monetary easing” under the current policy framework, Nakaso said in a speech to business leaders in Kochi, western Japan.
The BOJ revamped its policy framework in September, shifting its target to interest rates from the pace of money printing after three years of aggressive asset purchases failed to accelerate inflation to its 2 per cent target.
It has kept policy steady since then. — Reuters
