Iwata on monetary policy under the new framework

In the speech 'The conduct of monetary policy under the new framework' given on 8 June (published 7 July) Kazumasa Iwata of the Bank of Japan said against a background of high crude oil prices, major countries around the world are in the process of economic adjustment.

"Financial markets around the world also are making adjustments, reflecting changes in the economy as they seek a new equilibrium. The Japanese economy has so far been moving in line with the forecast described in the April Outlook

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