BOJ's Hawkish Member Eyes Steady Rate Hikes for Normalization [BNN Bloomberg (Canada)]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: BNN Bloomberg
“The handling of monetary policy is extremely important from here on for slow but steady progress in normalization to fold back the extraordinarily large-scale monetary easing,” Tamura said Wednesday in a speech to local business leaders in Aomori, northeastern Japan. The yen weakened after the speech as Tamura reiterated a line from the BOJ's policy latest statement that financial conditions will stay accommodative for the time being given the outlook for inflation. Tamura, the leading hawk on the nine-member board, was the first member of the board to speak in public after the bank ended the world's last negative interest rate on March 19. He indicated that the bank isn't finished with rate hikes by emphasizing the importance of the function of rates in the economy. “The final goal” is to bring up rates to restore their functionality as a way to adjust demand and affect inflation within the framework of the bank's 2% price target, said Tamura, a former senior executive of Sum
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Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website