On “Ohayō Terachan,” broadcast on 3 September, Bank of Japan Policy Board member Kataoka spoke about the importance of cooperation between monetary and fiscal policy, the two wheels of economic policy. Referring to the joint statement by the government and the Bank of Japan, he indicated that powerful monetary easing would continue to achieve the price stability target.
Bank of Japan Policy Board member Kataoka said it was important to place greater emphasis on coordination between the government and the Bank of Japan, expressing the view that coordination between monetary easing and fiscal policy should be prioritized. He also said the government is expected to make appropriate decisions on fiscal and growth policies.
According to the Bank of Japan’s explanation, it will continue powerful monetary easing and fulfill its role toward achieving the 2% price stability target as soon as possible. Takuji Aida (会田卓司) agreed that support from both wheels was important, expressing the view that monetary easing alone would not ensure sufficient circulation of funds if the power of government spending and corporate investment were lacking.
The program also touched on Policy Board member Kataoka’s previous career as a commentator on the show, introducing both his current position as a Bank of Japan Policy Board member and his past connection with the program.