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Suga, Kuroda affirm govt-BOJ cooperation

Tokyo, Sept. 23 (Jiji Press)–Japanese Prime Minister Yoshihide Suga and Bank of Japan Governor Haruhiko Kuroda at a meeting on Wednesday affirmed continued cooperation between the government and the central bank.


The two discussed the state of the domestic and overseas economies, and recent financial market developments at the prime minister’s office, at a time when the novel coronavirus epidemic continues to cripple Japan and many other countries and regions.


“We agreed that the government and the BOJ will conduct policy measures by sufficiently communicating with each other and fully working together,” Kuroda told reporters after the meeting.


“It’s desirable that exchange rates move stably reflecting economic fundamentals,” he added, in reference to the yen’s rise in overseas trading during the holiday weekend in Japan. Japanese financial markets were closed on Monday and Tuesday for national holidays.


Kuroda added that he has yet to hold “specific discussions” with Suga regarding the 2 pct inflation target the government and the BOJ announced in a joint statement in 2013, while stressing that his resolve to reach the target “has not changed at all.”


The Suga-Kuroda meeting at the prime minister’s office was the first since Suga took office on Sept. 16. Suga’s predecessor, Shinzo Abe, met with Kuroda at the prime minister’s office about twice a year to exchange opinions on economic and other issues.


The new prime minister is looking to follow Abe’s lead in closely cooperating with the BOJ, to signal his intention to continue the predecessor’s Abenomics economic policy mix, which includes monetary easing by the central bank.


At a news conference on Thursday last week, Kuroda said that he plans to hold regular talks with Suga, as he did with the former prime minister.


Wednesday’s session was the first between Japan’s prime minister and central bank governor since March 12, when Abe and Kuroda met.

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