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HomeBusinessMust keep ultra-low rates to sustainably hit price goal By Reuters

Must keep ultra-low rates to sustainably hit price goal By Reuters


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© Reuters. Examples of Japanese yen banknotes are displayed at a factory of the National Printing Bureau producing Bank of Japan notes at a media event about a new series of banknotes scheduled to be introduced in 2024, in Tokyo, Japan, November 21, 2022. REUTERS/Ki

AKITA, Japan (Reuters) – Bank of Japan board member Asahi Noguchi said on Thursday the central bank must keep interest rates ultra-low as the country has yet to achieve the bank’s 2% inflation target in a sustainable fashion.

“While not as much as other countries, Japan’s consumer prices have risen sharply. This increase is driven mostly by rising imported goods prices,” Noguchi said in a speech to business leaders in Akita, northern Japan.

“What’s more important in deciding monetary policy is trend inflation based on domestic macro-economic factors, which remains at low levels,” he said.

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