Takaichi Seeks Regular Reports from BOJ Governor

Tokyo, Nov. 12 (Jiji Press)–Japanese Prime Minister Sanae Takaichi on Wednesday called on Bank of Japan Governor Kazuo Ueda to make regular reports at government panel meetings. “It is important that appropriate monetary policy management be conducted to achieve both strong economic growth and stable price increases going forward,” Takaichi said at a meeting of the Council on Economic and Fiscal Policy. It was the first face-to-face encounter between Takaichi and Ueda since the prime minister took office last month. “The government and the Bank of Japan will continue to work together to develop the national economy,” she said, asking Ueda to “submit regular reports to the council.” Takaichi has pledged to continue former Prime Minister Shinzo Abe’s “Abenomics” reflationary policy mix, calling on the BOJ to fully cooperate with the government. During the day’s meeting, Ueda explained the latest economic and price outlook. The BOJ plans to raise its policy interest rate in accordance with economic and price trends. “The current situation is not very good,” former BOJ Deputy Governor Masazumi Wakatabe, a private-sector member of the council and a professor at Waseda University, said after the meeting. He suggested that the timing of a rate hike requires careful consideration. END [Copyright The Jiji Press, Ltd.]