Motegi Advocates Gradual Monetary Policy Normalization
Toshimitsu Motegi, a candidate in Japan's ruling party leadership race, supports the gradual normalisation of the Bank of Japan's monetary policy. He believes that Japan's economy is close to emerging from deflation and endorses the strategy to phase out the ultra-easy monetary measures in place.
- Country:
- Japan
In a significant development in Japan's political landscape, Toshimitsu Motegi, a prime minister hopeful competing in the ruling party's leadership race, has thrown his support behind the Bank of Japan's approach to gradually normalize monetary policy.
Motegi articulated his stance on Wednesday, emphasizing the critical need to steer away from ultra-loose monetary conditions. He noted that Japan's economy is showing signs of recovering from deflation, which makes it an opportune moment to start easing out of the current monetary stance.
His comments reflect a broader sentiment among policymakers looking to adapt financial strategies in response to changing economic conditions as Japan gears up for a pivotal phase in its economic trajectory.
(With inputs from agencies.)
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