(Reuters) – Japanese Prime Minister Fumio Kishida signalled his support for the Bank of Japan’s ultra-loose monetary policy in an interview with the Financial Times and said the central bank needs to maintain its current policy until wages rose.
Referring to BOJ Governor Haruhiko Kuroda’s 10-year tenure which ends in April next year, Kishida said: “At the moment, I am not thinking of shortening his term.”
“I will look ahead to the expected economic conditions of April next year in my deliberations on choosing the right person for the job,” the report quoted Kishida as saying.
The BOJ remains an outlier among a global wave of central banks tightening monetary policy to combat soaring inflation, which has pushed the yen to 24-year lows against the dollar.
(Reporting by Akriti Sharma in Bengaluru; Editing by Shri Navaratnam)
