Bank of Japan Policy Board member Masu Kazuyuki (増 一行) addressed a Financial and Economic Meeting held in Fukui Prefecture, calling for the policy rate to be brought within the estimated range for the neutral rate and indicating a willingness to continue raising rates toward monetary policy normalization.
Bank of Japan Policy Board member Masu Kazuyuki (増 一行) spoke at a Financial and Economic Meeting held in Fukui Prefecture on the 10th, calling for the policy rate to be brought “firmly” within the range for the neutral rate estimated by the BOJ. He said financial conditions remained accommodative and outlined a policy of moving toward normalization.
The article explained that bringing the policy rate within the estimated range for the neutral rate would establish a framework for taking nimble measures in either direction. It said this underscored a stance of continuing to raise rates toward monetary policy normalization.
In his remarks, Masu said that moving into the range would help ensure flexibility. Against the backdrop of still-accommodative financial conditions, he reiterated his view that rate increases should continue.
The article is available to members only and reports the key points of his remarks in Fukui Prefecture.