The Bank of Japan will continue to maintain loose monetary policy in the future.

(AFP)

[Financial Channel/Comprehensive Report] Bank of Japan Governor Kuroda Haruhiko said at a press conference on Thursday (22nd) that interest rates will not be raised for the time being, and he also emphasized that it is not a few months but two or three years.

"Kyodo News" reported that Kuroda Haruhiko pointed out that Japan's annual inflation rate in 2022 will reach 2.3%, but international resource prices and inflation will also slow down over time, so the inflation rate in 2023 and 2024 is almost certain. will be below 2%, so this is not the current environment in which Japan can raise interest rates.

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Kuroda said members of the Monetary Policy Committee believed that the Bank of Japan needed to continue its current policy.

However, additional actions will still be taken if necessary.

At the same time, there is currently no need to adjust forward guidance.

Regarding the direction of the yen's exchange rate, he also said: "The speech will fail, so there is no comment."

Among the major central banks around the world, only Japan is left to maintain a negative interest rate policy. The Swiss National Bank has also announced its withdrawal from the negative interest rate team on Thursday (22nd), raising the benchmark interest rate to 0.5%.

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