{"id":16887,"date":"2023-04-20T00:05:39","date_gmt":"2023-04-20T00:05:39","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/ex-mof-tamaki-urges-boj\/"},"modified":"2023-04-20T00:09:16","modified_gmt":"2023-04-20T00:09:16","slug":"ex-mof-tamaki-urges-boj","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/ex-mof-tamaki-urges-boj\/","title":{"rendered":"Ex-MOF Tamaki urges BOJ to alter stimulus while momentum lasts"},"content":{"rendered":"<p>By Tetsushi Kajimoto and Yoshifumi Takemoto<\/p>\n<p>TOKYO (Reuters) &#8211;     The Bank of Japan (BOJ) should alter its massive monetary stimulus even though it may be painful for an economy accustomed to decades of ultra-low interest rates, the country&#8217;s former top currency diplomat Rintaro Tamaki said.<\/p>\n<p>New BOJ Governor Kazuo Ueda currently has the &#8220;momentum&#8221; needed to make those changes though he needs to act within a year. Failure to act in that timeframe could mean the central bank risks dragging its feet on changing monetary stimulus, Tamaki said.<\/p>\n<p>&#8220;I&#8217;m not saying Governor Ueda should immediately move at his first policy review next week,&#8221; Tamaki, now the president of Japan Center for International Finance (JCIF), a non-profit think tank, told Reuters on Wednesday.<\/p>\n<p>&#8220;I hope he would demonstrate a stance towards changing the status quo. If he sits tight throughout a year, he would lose the momentum,&#8221; he said.<\/p>\n<p>&#8220;We should be aware of the risk of the BOJ shelving a step towards monetary normalisation,&#8221; Tamaki added.<\/p>\n<p>As a result, Japan would be left with distortions in bond, stock and real estate markets.<\/p>\n<p>&#8220;To change YCC, you need some element of a little surprise,&#8221; Tamaki added, without elaborating further.<\/p>\n<p>Speculation is rife in markets that the BOJ may alter or ditch its yield curve control (YCC) after Ueda assumed the helm of the central bank.<\/p>\n<p \/>\n<p> (Reporting by Tetsushi Kajimoto; Editing by Sam Holmes)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/ex-mof-tamaki-urges-boj\/people-walk-in-front-of-the-bank-of-japan-building-3\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3J007-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3J007-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tetsushi Kajimoto and Yoshifumi Takemoto TOKYO (Reuters) &#8211; The Bank of Japan (BOJ) should alter its massive monetary stimulus even though it may be painful for an economy accustomed to decades of ultra-low interest rates, the country&#8217;s former top currency diplomat Rintaro Tamaki said. New BOJ Governor Kazuo Ueda currently has the &#8220;momentum&#8221; needed [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":16888,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-16887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3J007-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=16887"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16887\/revisions"}],"predecessor-version":[{"id":16889,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/16887\/revisions\/16889"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/16888"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=16887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=16887"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=16887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}