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ECONOMY > Economic Policy

BOJ likely to continue ultraeasy policy after Abe’s resignation

  • August 29, 2020
  • , Jiji Press , 5:00 p.m.
  • English Press

Tokyo, Aug. 29 (Jiji Press)–The Bank of Japan is expected to maintain its massive monetary easing policy for the time being after Prime Minister Shinzo Abe resigns as the country’s economy is struggling with the fallout from the coronavirus.

 

The central bank is poised to continue taking all possible measures to support corporate financing as the virus is unlikely to be brought under control anytime soon.

 

The BOJ introduced its 2 pct inflation target in January 2013 in line with Abe’s push to get the Japanese economy out of deflation.

 

In April 2013, soon after taking office, BOJ Governor Haruhiko Kuroda, who was appointed by Abe, started massive liquidity injections as a key pillar of the prime minister’s Abenomics reflationary policy mix.

 

The BOJ’s ultraeasy monetary policy has helped to guide the yen lower and Japanese stock prices higher.

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