BOJ would rather do too much easing than too little: Gov. Ueda

Japanese central bank sticks to ultra-easy policy, bucking global trend

Bank of Japan Gov. Kazuo Ueda explains the decision to maintain the central bank's monetary policy stance in Tokyo on June 16. (Photo by Suzu Takahashi)

MITSURU OBE, Nikkei Asia chief business news correspondent

June 16, 2023 11:55 JST

Updated on June 16, 2023 18:40 JST

TOKYO -- The Bank of Japan's governor on Friday said he would rather carry out too much monetary easing than too little, after the central bank decided to keep its ultraloose policy intact despite anti-inflation tightening in other countries.

Speaking to reporters after the BOJ's nine-member board unanimously decided to maintain its yield curve control (YCC) policy -- under which 10-year Japanese government bond (JGB) yields are guided to around 0% and short-term rates to around minus 0.1% -- Ueda highlighted the central bank's two-decade struggle to end deflation.