2023-09-04 13:59:00
Former Bank of Japan advisory board member Tsuyoshi Kataoka said on Thursday that the Bank of Japan will only be able to exit its accommodative monetary policy if it achieves its 2% inflation target on a sustained basis. July 2017 (2023 REUTERS/Issei Kato)
[ムンバイ ４日 ロイター] – Former BOJ board member Tsuyoshi Kataoka said on Thursday that the BOJ will be able to exit its accommodative monetary policy only after achieving its 2% inflation target on a sustained basis. Speaking at the Archyde.com Global Markets Forum.
Kataoka expects wage negotiations in the spring of 2024 to be key to achieving the BOJ’s inflation target. Wage talks next year will require nominal wages to rise at least as much as this year to ensure a virtuous cycle of incomes, spending and prices, he said.
Mr. Kataoka also said that when the BOJ starts to move away from the policy, it will first remove the allowable fluctuation range of the 10-year JGB yield, then withdraw from the negative interest rate policy, and finally abolish the yield curve control (YCC). I think it will.
He is currently Chief Economist at PwC Japan.
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