BOJ to Slowly, Steadily Normalize Monetary Policy: Policymaker

   Aomori, March 27 (Jiji Press)--It is important for the Bank of Japan to slowly but steadily normalize monetary policy and skillfully bring its unprecedented massive monetary easing to an end, a BOJ policymaker said Wednesday.
   Naoki Tamura, a member of the BOJ's Policy Board, signaled in a speech in the northeastern city of Aomori that the central bank will gradually raise interest rates in line with economic and price developments.
   The BOJ last week lifted its negative interest rate policy, carrying out its first rate hike in 17 years. It also scrapped its yield curve control to guide long-term rates. Both were key components of the BOJ's massive easing campaign, started by former Governor Haruhiko Kuroda.
   The BOJ has taken the first step toward monetary policy normalization through last week's actions, Tamura said.
   Through the policy normalization, the bank hopes to bring interest rates to levels at which the rates can serve their function to adjust demand through their fluctuations, Tamura also said.

(2024/03/27-14:39)

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