Statement by Yoshimitsu Kobayashi, Chairman of Keizai Doyukai On Diet Approval of Proposal for BOJ Governor and Deputy Governors

March 16, 2018

Yoshimitsu Kobayashi
Chairman, Keizai Doyukai

PDF

1. Today, Japan's Diet has approved the government's nomination for governor and deputy governors of the Bank of Japan. We welcome the appointment of the Bank's top three for their coming terms as it will lead to Japan's sustainable monetary policy.
2. Reappointed Governor Haruhiko Kuroda has led Abenomics with monetary policy by driving the "different-dimension monetary easing," leading to a lower yen and higher share prices. Now, attentions are on how the exit policy will be formulated going forward. We hope that broad and flexible discussions will be made by the Bank for our economy's sustainable growth, with an eye on monetary tightening of the U.S. and Europe. A dialogue with the markets is essential in this regard.
3. Progress of the Fourth Industrial Revolution has accelerated the development of Fintech and Blockchain technology, and continued to change the business environment. Against this backdrop, we expect BOJ to implement monetary policy in line with the government's fiscal policy and economic growth strategy, while responding to the environmental change with agility and maintaining central bank independence.

Japanese version