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BOJ, government may need new joint statement: deputy governor Wakatabe

Kitco News

TOKYO (Reuters) - Bank of Japan Deputy Governor Masazumi Wakatabe said on Friday it may be necessary for the central bank and the government to agree on a new joint statement that is similar to one signed between the two in 2013.

Under the joint statement in 2013, the BOJ agreed to hold itself responsible for achieving its 2% inflation target, while the government promised to pursue fiscal and structural reforms.

“One may find the joint statement between the BOJ and the government in 2013 rather interesting and useful in ensuring a proper division of labor,” Wakatabe told a seminar.

“It may be necessary for the central bank and government to agree on a 2013 joint statement-like arrangement to tackle the (COVID-19) crisis and secure a proper division of labor,” he said.

Reporting by Leika Kihara; Editing by Chizu Nomiyama

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