BOJ Easing Measures "Fulfilled Their Roles": Meeting Summary

   Tokyo, March 28 (Jiji Press)--A Bank of Japan policymaker said at the latest monetary policy meeting that the central bank's massive easing measures "have likely fulfilled their roles," a summary of opinions at the March 18-19 meeting showed Thursday.
   According to the summary, many members of the BOJ's Policy Board agreed that achieving the BOJ's price stability target of 2 pct in a sustainable and stable manner is within sight, in view of large wage hikes offered mainly by large companies in this year's "shunto" labor-management negotiations.
   At the policy meeting, the BOJ decided to end its negative interest rate and yield curve control policies, as well as new purchases of exchange-traded funds.
   One policymaker said that the shift from the quantitative and qualitative monetary easing introduced in 2013 to a "normal phase of monetary easing" would be "quite possible without causing short-term shocks."
   "Expectations for the outlook for Japan's economy have increased," another policymaker said. "The economy is possibly reaching a historic inflection point."

(2024/03/28-14:11)

To read a full story, please click here to find out how to subscribe.