In an interview with Bloomberg News early Wednesday morning, potential candidate for next Japan’s prime minister, Katsunobu Kato, indicated that he is leaning toward the Japan Bank raising interest rates.
Katsunobu Kato’s most important statements in the interview in a nutshell were:
- I believe that Japan should continue to strive for an economy where interest rates continue to move as usual.
- Obviously, we must go in this direction, so that inflation does not remain low and interest rates are negative because this ultimately results in the economy stagnating.
- Caution is still required in Japan Bank’s interest rate moves in the near future, to avoid a repeat of the scenario of severe turmoil witnessed in global financial markets this month following the Japan Bank’s decision at the end of last month.
- Years of inaction of price inflation and interest rates have been significantly damaging to the economy, as this lack of movement has led to structural distortions in the foundations of the Japanese economy, but we have finally reached a stage where we can see prices moving again properly.
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