Japan does not need excessively loose monetary policy, economy minister says

Japan is no longer in deflation so does not need excessively loose monetary policy that pursues higher inflation, Economy Minister Minoru Kiuchi said on Friday.

But Kiuchi declined to comment on whether the administration was opposed to further interest rate hikes by the Bank of Japan, saying only that monetary policy decisions fell under the jurisdiction of the central bank.

Kiuchi made the comments in a regular post-cabinet meeting news conference, when asked by reporters about a summary of opinions of the BOJ’s September meeting that showed a government representative calling for caution over further rate hikes.

Reuters

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