Bank of Japan Governor Kazuo Ueda speaks at a group interview with media in Tokyo, Japan, May 25, 2023.
"The objective of the Bank's monetary policy is achieving price stability, which is its mission as stipulated by law.
"A central bank's ability to conduct monetary policy is not impaired by a temporary decrease in its profits and capital, provided that it conducts appropriate monetary policy," he said.
Some academics have warned the BOJ's huge balance sheet will make an exit from ultra-loose policy difficult by exposing it to massive losses that could put its credibility on the line.
But he has also said the BOJ will consider an exit when sustained, stable achievement of its price target is in sight.
Persons:
Kazuo Ueda, Kim Kyung, Ueda, Haruhiko, Leika Kihara, William Mallard, Sonali Paul, Michael Perry
Organizations:
Japan, REUTERS, Bank of Japan, Japan Society of Monetary, Thomson
Locations:
Tokyo, Japan, TOKYO