BoJ deputy gov defends ending of 0% interest rate

- Central Banking staff
- 31 Jan 2001

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The Bank of Japan was not wrong in ending its zero interest rate policy last August, Sakuya Fujiwara, a central bank deputy governor, said on Jan. 31. "Look at the market and economic indicators in the month following the removal of the zero rate," Fujiwara said in a speech at the Japan National Press Club. "And you would see no signs that our decision was a poor one."

Fujiwara said the central bank has not changed its stance that a slow economic recovery is being led by private-sector demand

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