TOKYO : Japan has yet to see economic conditions fall into place for the central bank to raise interest rates, Akira Amari, a veteran ruling party lawmaker, told Reuters on Wednesday.'Basically, Japan's economy isn't in a condition where the Bank of Japan (BOJ) can exit' ultra-loose monetary policy, said
TOKYO : Japan has yet to see economic conditions fall into place for the central bank to raise interest rates, Akira Amari, a veteran ruling party lawmaker, told Reuters on Wednesday.
"When stripping away the effect of one-off factors like energy and fresh food, we're not seeing inflation stably move up around 2 per cent," Amari said, adding that raising interest rates now would hurt the country's still fragile economy. "There are some people who say it's sufficient to target 1 per cent inflation because 2 per cent inflation cannot be achieved. But 2 per cent inflation is a global standard. In the global world of central banking, inflation target means targeting 2 per cent," Amari said.
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