Bank of Japan policymakers are considering the timing of ending the negative rate policy, with some members calling for a debate on the future exit from ultra-loose monetary policy. Governor Ueda is preparing for a potential interest rate hike, suggesting a move in spring while not ruling out a January hike. The discussions revolve around confirming sustainable achievement of the price target before ending the negative rate policy. Some members indicated no rush to make the move, emphasizing the need to assess wage outcomes next spring. Governor Ueda mentioned that strong profits of smaller firms could influence policy decisions. The board may leave some part of the current framework intact but will review entire measures in reaching decisions.
BOJ's Ueda prepares the ground for the nation’s first interest rate hike since 2007 with rounds of comments that build the case for a move in spring while not ruling out a January hike https://t.co/gdsIaUc7hu
Many thanks to Gov Ueda for hosting me at the Bank of Japan. He is a role model for academics-turned-central-bankers everywhere. https://t.co/0QJ5gdfW74
Ambassador Emmanuel and I met with Gov Ueda at the Bank of Japan today to discuss the state our two economies. https://t.co/VmkAn3ZvlS
BOJ's Ueda prepares the ground for the nation’s first interest rate hike since 2007 with rounds of comments that build the case for a move in spring while not ruling out a January hike https://t.co/ECf2KpU56w
🇯🇵 Some Bank of Japan policymakers called for deeper debate on a future exit from ultra-loose monetary policy as the economy makes progress toward achieving the bank's price target, a summary of opinions at this month's meeting showed on Wednesday. While the board agreed to… https://t.co/ujEtWrYfX2
BOJ'S GOVERNOR UEDA WHEN ASKED IF VARIOUS STEPS TAKEN NOW WILL BE OVERHAULED UPON POLICY CHANGE: WE MAY LEAVE SOME PART OF CURRENT FRAMEWORK INTACT BUT WILL LIKE TO LOOK AT ENTIRE MEASURES IN REACHING DECISION - NHK.
BOJ'S GOVERNOR UEDA: EVEN IF SMALLER FIRMS' WAGE DATA ISN'T AVAILABLE, IF THEIR PROFITS ARE VERY STRONG AND RAISES HOPE OF HIGHER WAGES, THAT WILL BE BIG FACTOR IN DECIDING POLICY - NHK.
Bank of Japan board members discussed the potential timing of ending the negative rate policy during their meeting last week, with several members indicating they see no rush to make the move https://t.co/7gGyfGsmjn
🔴 BOJ SUMMARY: ONE MEMBER SAID THAT WE MUST CONFIRM A SUSTAINABLE AND STABLE ACHIEVEMENT OF THE PRICE TARGET IS FORESEEN IN ORDER TO END THE NEGATIVE RATE AND YCC.
Watched a very thoughtful discussion with @DeanBaker13 & @BobMurphyEcon There are far too few of these rational talks between economists with different policy prescriptions. Kudos to Mr. Baker for his good faith discussions, which I often find lacking on the Keynesian side.
Some in BOJ called for debate on future exit from easy policy -Dec meeting summary https://t.co/1y7RkwrLBV https://t.co/Egbwnl2f7B
⚠️ SOME IN BOJ CALLED FOR DEBATE ON FUTURE EXIT FROM EASY POLICY -DEC MEETING SUMMARY Full Story → https://t.co/AbxihA3Sse https://t.co/qq7kKAppYw
BOJ SUMMARY: ONE MEMBER SAID WE ARE NOT IN SITUATION WHERE WE WOULD FALL BEHIND THE CURVE IN RAISING RATES, EVEN IF WE DECIDED TO WAIT AFTER SEEING WAGE TALK OUTCOMES NEXT SPRING
We were delighted to host Prof. William Easterly from New York University last month, who gave a fascinating lecture on paternalist vs. liberal approaches in economic development. Check it out below and share your thoughts. https://t.co/il3U96z57P 📣