Speculation Mounts of Further BOJ Easing

The reported appointment of well-known monetary reflationist Yasushi Harada to the Bank of Japan (BOJ) board has ignited fresh speculation of more easing from the central bank.

“This looks like a piece of good news for those expecting additional easing actions by the BOJ,” said Credit Suisse economist Hiromichi Shirakawa in a note. Harada is a “well known as a monetary reflationist;” if he joins the nine-member BOJ board, “Governor Haruhiko Kuroda is likely to be able to continue to secure at least five votes for an easing action.”

Prime Minister Shinzo Abe’s government will nominate Harada, a Waseda University economist, to replace fellow dove Ryuzo Miyao, who will step down when his term ends on March 25, the Nikkei reported without citing sources.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.