Japan on track to normalise monetary policy, says ruling party heavyweight
TOKYO - Japan is seeing conditions fall in place for the central bank to normalise monetary policy, ruling party heavyweight Katsunobu Kato told Reuters, underscoring growing political support for further interest rate hikes.
"It's therefore natural for monetary policy to revert to the original style in which interest rates move in positive territory reflecting market function," he told Reuters in an interview on Friday. The BOJ ended eight years of negative interest rates in March on heightening prospects that inflation will durably hit its 2% target, helped by rising wages.
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