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MNI BRIEF: BOJ Policy Not Intended To Support Govt Financing

(MNI) TOKYO

Bank of Japan Governor Haruhiko Kuroda said on Friday that the BOJ's easy policy is aimed at achieving the price stability, not aimed at supporting the government’s financing.

Kuroda told lawmakers that Japan’s economy is on a post-Covid recovery path and there are high uncertainties about the outlook for economy, Kuroda said.

He added that it is appropriate for the BOJ to firmly support the economy, judging from the existing conditions.

Kuroda also said the BOJ aims to achieve price stability amid a virtuous cycle of high profits, labor market and wages.

He also repeated the recent view that the year-on-year rise in Japan's core consumer price index will fall below 2% in fiscal 2023.

Japan's annual core consumer inflation rate accelerated to 3.6% y/y in October, rising at the fastest pace since February 1982, data released by the Ministry of Internal Affairs and Communications Friday showed.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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