Bank of Japan Governor hinted that oppose raising interest rates


Bank of Japan governor Toshihiko Fukui said on the 22nd, in view of Japan's sustained economic growth, the Bank of Japan that it is not necessary to change the current monetary policy. This was the Japanese media interpreted as opposed to the Bank of Japan raising interest rates.

Fukui is organized by the economic and financial Kyodo symposium on the above remarks. He acknowledged that the United States loan crisis triggered by turmoil in the global financial markets on the global economic outlook brought about uncertainty, but he said the Bank of Japan's policy persist looking forward, and would not be affected by "short-term" effect. He said: "For our monetary policy, our basic philosophy without any change."

Fukui said that as the real estate market investment languish, and the Japanese economy is expected to slow down growth. He also is expected, due to higher oil prices and food prices, the Japan price will rise. However, in his view, in the stable prices, the Japanese economy is likely to continue to moderate growth.

To boost the economy, the Federal Reserve has accelerated the pace of interest rate cuts. However, since February last year, the Bank of Japan has maintained its benchmark interest rates unchanged.