Japans Pm Kishida Wants Support On Higher Wages From New Boj Governor

Japans Pm Kishida Wants Support On Higher Wages From New Boj Governor by Adam Rosen last updated on March 03, 2023

Japan's PM Kishida Wants Support On Higher Wages From New BOJ Governor

The PM of Japan has recently shared some comments about the next leader of the Bank of Japan. According to him, the government hopes that the new chief will create a monetary policy that can support the government's goal of higher wages and strong economic growth.

In other words, PM Kishida wants the new chief to continue with the ultra-loose monetary policy just like his predecessor.

And when the PM was asked about whether the government & central bank will revise their policy, he said that it is still too early to say anything. As per the joint policy, the BOJ has the duty to achieve an inflation target of 2% in as little time as possible.

Prime Minister Wants Sustainable Economic Growth

The Prime Minister also shared his views on how the governments want to promote sustainable economic growth as well as wage growth in the company. And for that, he wants the new governor to consider the government's goals in its policy.

Earlier, the government named Kauzo Ueda as the next chief of the Bank of Japan. Mr. Kauzo Ueda is a famed academic, and his nomination has surprised many around the globe. According to analysts, the appointment of Kauzo will probably put an end to the yield control policy.

According to Kishida, he talked with various people before making the decision for the next BOJ governor. As for how the PM finalized the line-up for the next governor, he declined to comment.

If we look at the background of Ueda, he is a famed academic and a globally renowned economist. In addition, he also brings years of financial expertise to the table!

And now, the market is waiting to hear something from the next BOJ governor. Once we have heard something from him, the next direction of the BOJ will become clear. But for the most part, the government is hoping that it will continue with the current policy to support economic growth.