Japan PM Abe says BOJ’s easy policy shouldn’t continue forever

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Japanese Prime Minister Shinzo Abe said on Friday the central bank’s ultra-easy policy should not continue forever, signaling his hope of laying the path toward an exit from a radical stimulus programme in coming years.

Abe said the Bank of Japan’s massive stimulus programme, which was part of his signature “Abenomics” policies to reflate the economy, was needed to pull Japan out of chronic deflation.

“I don’t think we should do (the ultra-loose policy) forever,” Abe said in a news conference, when asked whether the BOJ needs an exit strategy for its massive stimulus programme.

“But when to modify the easy policy is up to (BOJ Governor Haruhiko) Kuroda. I’ve left that decision to him,” Abe said.

Abe made the remarks ahead of a ruling party leadership race next week which he looks set to win and would put him on track to become Japan’s longest-serving premier.

“Wages are finally picking up … We’re starting to see consumption and capital expenditure boost growth,” Abe said.

“I’d like to achieve this during my next term,” he said, when asked whether he will lay the path toward an exit from the BOJ’s ultra-easy policy if he is re-elected.

 

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