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(Update) BOJ Aims to Steadily Normalize Monetary Policy: Policymaker

(Update) BOJ Aims to Steadily Normalize Monetary Policy: Policymaker

   Aomori, March 27 (Jiji Press)--The Bank of Japan will try to steadily normalize its monetary policy, a BOJ policymaker said Wednesday.
   The central bank aims to avoid "discontinuous changes" toward policy normalization now that it has finally put an end to its negative interest rate policy by carrying out the first rate hike in 17 years, BOJ Policy Board member Naoki Tamura told a press conference in the northeastern Japan city of Aomori.
   In a speech earlier the same day, he signaled that the central bank will gradually raise interest rates in line with economic and price developments.
   At the news conference, he did not, however, elaborate on normalization efforts to be made by the bank from now on.
   "Unlike the U.S. Federal Reserve, we are not considering raising interest rates by 5 percentage points in a year," Tamura said. But he quickly added, "At this point, I can't say to what extent rates will be raised."

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AFP-JIJI PRESS NEWS JOURNAL


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