Japan’s Kishida says it is up to the BOJ to decide whether Reuters should go out of its way

By Tetsushi Kajimoto and Leika Kihara

TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida reiterated on Friday that it was up to the central bank to decide on a strategy to get out of its massive recovery program in the wake of the cost of living in parliament.

“It is up to the Bank of Japan to decide on a specific monetary policy, including the idea of ​​easing the money,” Kishida told parliament.

“We expect the BoJ to continue its efforts to achieve its 2% inflation target,” he said.

Kishida’s commentary has responded to a question from opposition lawmaker Hitoshi Asada, who has called on the government to regain growth rather than rely on ultra-loose monetary policy rather than focus on structural reform.

“Ultra-loose politics cannot go on indefinitely. Without reform, it will only result in price increases. We are moving from a simple border and policy to a potential exit,” Asada said.

With consumer inflation below the 2% target, the BOJ stressed that it is in no hurry to get out of the ultra-easy policy and described the recent cost-driven inflation as transient.

But some opposition lawmakers have warned of the blow to homes as a result of rising food and fuel prices, a sign of inflation emerging as a political issue ahead of this year’s upper house elections.