The Fed and the Bank of Japan are even further apart after Jackson Hole
With big U.S. rate hike expected in September, pressure on Kuroda set to rise
BOJ Gov. Haruhiko Kuroda, left, stressed at Jackson Hole that Japan must continue its easing policy, while U.S. Fed Chair Jerome Powell called for fighting inflation "until the job is done." (Nikkei montage/Photos by Reuters, iStock)
TAMAKI FUKUI and RYO IGAWA, Nikkei staff writers | Japan
TOKYO -- As central bankers mingled in the mountain air at the Jackson Hole symposium last month, Japan's mask-wearing Haruhiko Kuroda looked every bit the symbol of his country's rigid monetary policy.
The Bank of Japan governor stressed during his remarks at the gathering in Wyoming that Tokyo needs to maintain an easy-money stance, blaming Japan's inflation on higher commodity costs, not low interest rates.