MNI BRIEF: No Imminent Need To Review Joint Statement - Ueda

Bank of Japan Governor Kazuo Ueda said on Tuesday that he does not see an imminent need to review a joint statement between the BOJ and the government made in 2013.

“The economy and prices have improved steadily and Japan’s economy isn't in deflation anymore," Ueda said during his first testimony to lawmakers after taking office on April 10. He said Prime Minister Fumio Kishida agreed a review of the statement was not needed.

“From the viewpoint of the BOJ, we continue to make effort to achieve the price stability target, which in turn will contribute to enabling firms and households to make effort to increase productivity.”

Ueda will likely continue easy policy settings to support further price stability (see: MNI BRIEF: Ueda Targets Easy Policy, Price Stability).