Governor says Bank of Japan will continue to have a loose monetary policy

Governor of the Bank of Japan Haruhiko Kuroda stated at a news conference at a G20 event on Thursday that the central bank plans to maintain its loose monetary policy and that the government’s energy assistance programme will keep inflation in check.

The governor notes that Japan is no longer experiencing deflation and anticipates inflation to be below 2% for the upcoming fiscal years 2023 and 2024.

According to Kuroda, the Japanese government’s energy assistance will help keep inflation under control given the decline in import prices.