Photo taken on April 20, 2022 shows the Japanese yen in Tokyo, Japan. (Xinhua/Zhang Xiaoyu)
The current easing monetary policy initiated by the central bank has more positive effects than negatives at this moment, said Bank of Japan governor nominee Kazuo Ueda.
TOKYO, Feb. 28 (Xinhua) -- Bank of Japan (BOJ) chief nominee Kazuo Ueda on Monday reiterated his intention to continue the central bank's current monetary easing policy.
Ueda told an upper house parliamentary hearing that it is appropriate to maintain the easing policy while exercising creativity depending on the situation, adding that "at this moment, the positive effects outweigh the negatives."
Ueda was facing his second confirmation hearing after a session in the lower house on Friday, where lawmakers grilled him on concerns over the central bank's unorthodox monetary policy under current governor Haruhiko Kuroda.
In a question-and-answer session on Monday, when asked about the effectiveness of the central bank's ultra-easy monetary policy, Ueda noted that the current easing policy, initiated by outgoing BOJ Governor Kuroda 10 years ago, has had more benefits than side effects.
The 71-year-old academic also showed his eagerness to make his possible five-year term as BOJ governor the period to "complete the (central bank's) mission to achieve price stability."■
