Prime Minister of Japan Fumio Kishida on Friday said that it was up to the central bank of Japan to set decision on the exit strategy of massive stimulus program, when he was asked about soaring inflation.
Kishida at the parliament said, “It’s left to the Bank of Japan to decide on specific monetary policy, including the thinking on an exit from monetary easing”.
“We hope the BOJ continues to make efforts to achieve its 2% inflation target,” he said.
Japanese prime minister made these remarks responding to comments from a opposition lawmaker Hitoshi Asada on the country relying too much on ultra-loose monetary policy.
“Ultra-loose policy can’t continue indefinitely. Without reform, it will only cause price hikes. We’re nearing the limit and a potential exit from easy policy,” Asada said.