Anchor Mariko Oe (大江麻理子) conducted an exclusive interview with former BOJ Governor Haruhiko Kuroda (黒田東彦). In addition to discussing the policy direction of the Ueda-led BOJ and next year's economic outlook, they addressed developments under the Trump administration as a source of uncertainty for the global economy. The interview drew attention to year-end market trends and the future course of BOJ policy.
Developments in the Tokyo market on 20 December were reported, indicating that the yen could at one point be sold into the upper ¥157 range. Against this backdrop, anchor Mariko Oe (大江麻理子) conducted a one-on-one interview with former BOJ Governor Haruhiko Kuroda (黒田東彦), asking for his assessment of the Ueda-led BOJ's current position and his economic outlook for next year.
Regarding interest-rate hikes, Kuroda (黒田東彦) described them as “a process of gradually raising interest rates toward the neutral rate” and expressed the view that there is little significance in continuing excessive monetary easing. He also commented on the policy direction of Governor Ueda and the side effects of the associated large-scale purchases of Japanese government bonds.
Regarding the global economy next year, the view was expressed that policies under the incoming Trump administration will increase uncertainty. It was suggested that policy developments could heighten inflationary pressure, potentially creating a situation in which the Federal Reserve raises interest rates.
Regarding the outlook for the Japanese economy, Kuroda (黒田東彦) said that it is on a path toward the steady and sustained achievement of the 2% price stability target, and reportedly stated that a declaration that Japan has overcome deflation could be made next year.