News

Bank of Japan review member Hajime Takada: Under special circumstances, the Bank of Japan may need to consider flexible response measures, including the purchase of Japanese government bonds.

Bank of Japan review member Hajime Takada: Initial concerns about the impact of U.S. tariffs have eased.

Bank of Japan review member Hajime Takada: The broad consensus that the Japanese economy is no longer in deflation seems to be contributing to a general view that the price stability target is within reach.

Bank of Japan review member Hajime Takada: Given that investment demand for ultra-long-term Japanese government bonds is weakening, the Bank of Japan must carefully review market conditions when it conducts a mid-term review of its tapering plan in June.

Bank of Japan review member Hajime Takada: If such fluctuations occur, there is a risk of functional deterioration or failure in the Japanese government bond market, and appropriate response measures will need to be taken at that time.

Bank of Japan review member Hajime Takada: In the process of normalizing monetary policy, the Bank of Japan should avoid triggering market fluctuations that significantly exceed the risk premium required by market participants.

Bank of Japan review member Hajime Takada: We will see a situation where wages and prices are not easy to rise beyond the past.

Hajime Takada, a member of the Board of Review of the Bank of Japan: The Bank of Japan is at a stage where it should review the reduction of the size of its balance sheet.

Bank of Japan review member Hajime Takada: The Bank of Japan should slow down and act prudently when reducing its purchases of Japanese government bonds.

Bank of Japan review member Hajime Takada: The Bank of Japan must further raise interest rates in a gradual manner.

Bank of Japan review member Hajime Takada: I proposed raising interest rates in January on the grounds that the Bank of Japan must continue to adjust real interest rates, and the current real interest rates are still significantly lower than overseas levels.

Bank of Japan review member Hajime Takada: My focus is on whether the Japanese economy is at risk of returning to deflation.

Bank of Japan review member Hajime Takada: It is necessary to take into account the fact that Japan’s equilibrium interest rates are often deeply affected by the overseas environment.

Bank of Japan review member Hajime Takada: If overseas factors that push up prices emerge, Japan's prices may rise more than expected.

Bank of Japan review member Hajime Takada: Risks arising from differences in monetary policy stances between Japan and overseas must be closely monitored, which may lead to violent fluctuations in financial markets, especially the foreign exchange market.

Bank of Japan review member Hajime Takada: Even after raising interest rates in December, Japan’s real short-term interest rates are still significantly negative.

Bank of Japan review member Hajime Takada: A sharp economic downturn triggered by the credit crunch is unlikely.

Bank of Japan review member Hajime Takada: I think it is necessary to shift the focus of the Bank of Japan more to rising prices.

Bank of Japan review member Hajime Takada: Concerns about the Japanese economy returning to deflation have been eliminated.

Hajime Takada, a member of the Board of Review of the Bank of Japan: Overall, overseas economies have maintained moderate growth, although some areas are still weak.