Many central bank governors from the Group of Seven (G7) rich nations appeared to feel the impact of past interest rate hikes has yet to show fully as they look to guide future monetary policy, Bank of Japan Governor Kazuo Ueda said on Saturday.
"Participants seemed to share the understanding that the effect of past interest rate hikes has yet to fully show on their economies and inflation, and could begin to appear more ahead," Ueda told a news conference after the gathering.Turning to Japan, Ueda said he told his G7 counterparts the economy was recovering, although consumer inflation, which now stands above 3%, will begin to slow toward the middle of the current fiscal year, which ends in March 2024.
"I told the G7 meeting that Japan is maintaining ultra-loose monetary policy to sustainably and stably achieve the BOJ's 2% inflation target," he said. Ueda and Finance Minister Shunichi Suzuki spoke at the news conference as Japan is the chair of this year's G7 finance leaders' gathering in Niigata, which concluded on Saturday.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BoJ’s Ueda: No big problem in Japan's banking systemBank of Japan (BoJ) Governor Kazuo Ueda said on Thursday, “there is no big problem in Japan's banking system.” Additional quotes Financial market, fin
Read more »
Man Group picks all-female top team as CEO Ellis retiresMan Group will be led by two women for the first time in its history by the end of this year, after the London-listed hedge fund group said its long-standing CEO Luke Ellis will be succeeded by current president Robyn Grew.
Read more »
Emirates Group reports record $3 billion annual profitDubai's Emirates Group on Thursday said financial year 2022-23 had been its most profitable so far, reporting an annual profit of 10.9 billion dirhams ($3 billion) and a group revenue increase of 81% to $33 billion.
Read more »
WSJ News Exclusive | CI Financial to Sell Stake in U.S. Wealth-Management Business to Investor GroupCanadian investment firm CI Financial is selling a 20% stake in its U.S. wealth-management arm to a group of investors including private-equity firm Bain Capital, shelving plans for an IPO of the business
Read more »
FTX Group Hit With Tax Claims Worth Over $40 BillionA $40+ billion tax claim slap for FTX! The IRS has recently filed claims worth over $40 billion in unpaid employment taxes against FTX Group. What does this mean for FTX_Official creditors? Read here -
Read more »
Group of school children injured in a bridge collapse in FinlandTwenty-seven people, most of them teenage school children, were injured on Thursday when a temporary pedestrian bridge collapsed in the Finnish city of Espoo, just outside the capital Helsinki, rescue services said.
Read more »