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MNI BRIEF: No Need to Change BOJ Accord - Kuroda, Kishida

(MNI) Tokyo
(MNI) TOKYO

Bank of Japan Governor Haruhiko Kuroda and Prime Minister Fumio Kishida said on Monday that they saw no need to change a joint statement made by the BOJ and the government in January 2013.

“(I have) no plan to change individual roles in the statement,” Kuroda told lawmakers.

Prime Minister Kishida said he had no plan to review the accord between the BOJ and the government, and the government will continue to closely cooperate with the BOJ to achieve economic growth accompanied by wage hikes.

Kuroda said it was difficult for the BOJ to target real wages as monetary policy doesn’t control wages, which are determined by labor productivity. He added that upward pressure on wages will increase due to an improvement in the output gap.

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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