TOKYO: The Bank of Japan is considering conducting a comprehensive review of the impact of the monetary easing steps it has taken over the longer term, the Sankei newspaper reported on Sunday.
The central bank may start discussions as soon as at its next policy meeting on April 27-28, which will be new Governor Kazuo Ueda’s first policy meeting since taking the helm, the paper reported without citing sources.
At his inaugural news conference on April 10, Ueda said it could be a good idea to conduct a comprehensive review of the BOJ’s monetary policy dating back to its prolonged battle with deflation decades ago, though adding it was something he must discuss with the nine-member board in reaching a conclusion.
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BOJ Deputy Governor Shinichi Uchida, before assuming that role in March, had also said the central bank could learn from the experience of U.S. and European counterparts’ year-long review of their monetary policies.
With the global economic outlook and the durability of wage gains uncertain, the BOJ is expected to maintain its ultra-loose policy at the April 27-28 meeting, sources have told Reuters.
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