By Leika Kihara<\/p>\n
TOKYO, Dec 5 (Reuters) – Japan’s economic revitalisation minister, Minoru Kiuchi, called on the central bank to \u200bclosely communicate with the government in setting monetary policy \u200con Friday, but did not voice opposition to a near-term interest rate hike.<\/p>\n
Asked \u200cabout growing prospects of an interest rate hike by the central bank in December, Kiuchi said that specific policy means was for the Bank of Japan to decide.<\/p>\n
The remarks by Kiuchi, who \u2060is known to be \u200can advocate of loose monetary policy, reinforces the market view that the government will not push back \u200dagainst any decision to raise interest rates to 0.75% from 0.5% this month.<\/p>\n
“I hope the BOJ continues to guide monetary policy appropriately to \u200bstably achieve its 2% inflation target working closely with the \u200cgovernment,” he told a news conference on Friday.<\/p>\n
Kiuchi also said he hoped the central bank sets policy mindful of BOJ rules that require the central bank to closely communicate with the government.<\/p>\n
BOJ Governor Kazuo Ueda said on Monday the bank will consider \u2060the “pros and cons” of raising rates \u200bat its December 18-19 meeting.<\/p>\n
Sources have \u200btold Reuters the BOJ is likely to raise rates in December and the government is likely to \u200daccept the decision.<\/p>\n
Kiuchi \u2060oversees the Cabinet Office which, along with the Ministry of Finance, has the authority to send representatives to attend \u2060the BOJ’s policy meetings. The representatives cannot vote but can request a delay \u200cin the board’s vote on rates.<\/p>\n
(Reporting by Leika KiharaEditing \u200cby Alexandra Hudson, Elaine Hardcastle)<\/p>\n","protected":false},"excerpt":{"rendered":"By Leika Kihara TOKYO, Dec 5 (Reuters) – Japan’s economic revitalisation minister, Minoru Kiuchi, called on the central…\n","protected":false},"author":3,"featured_media":427203,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[6238,63560,64,79,19549,170,198811,2177,152174,67,132,68],"class_list":{"0":"post-427202","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bank-of-japan","9":"tag-boj","10":"tag-business","11":"tag-economy","12":"tag-interest-rate","13":"tag-japan","14":"tag-minoru-kiuchi","15":"tag-monetary-policy","16":"tag-the-government","17":"tag-united-states","18":"tag-unitedstates","19":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115668788499037388","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/427202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=427202"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/427202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/427203"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=427202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=427202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=427202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}