Ministers, BOJ Gov. Affirm Stable Prices, Economic Growth

Tokyo, Nov. 19 (Jiji Press)–Japanese Finance Minister Satsuki Katayama, economic and fiscal policy minister Minoru Kiuchi and Bank of Japan Governor Kazuo Ueda held talks on Wednesday and agreed on the need to balance stable prices and economic growth. “We’ll make every effort in policy management to achieve stable inflation accompanied by wage increases and sustainable economic growth,” Katayama told reporters after the meeting. The previous day, Prime Minister Sanae Takaichi and Ueda held their first meeting since Takaichi took office last month.The successive meetings appear to reflect the Takaichi administration’s intention to work with the BOJ to promote economic growth. Katayama also said that Wednesday’s meeting confirmed that the government and the BOJ will continue to closely monitor market trends “with a high sense of tension” and communicate carefully with the market. She added that the meeting included no specific talks about foreign exchange movements, despite the yen’s weakening amid concerns that the Takaichi administration’s large-scale economic package could worsen the government’s fiscal situation. Katayama noted that Ueda explained the BOJ’s plan to gradually raise interest rates if the probability of achieving its 2 pct inflation target increases. END [Copyright The Jiji Press, Ltd.]