Japan's Minister of Growth Strategy Minoru Jonouchi said that the independence of the Bank of Japan must be respected, and that the central bank should decide on specific monetary policy instruments by itself. “According to section 3 of the Bank of Japan Act, the Bank of Japan's autonomy in monetary and financial regulation must be respected.” At a press conference held in Tokyo on Friday, Sanetaka Seonguchi said, “The government insists that the specific monetary policy approach should be decided by the Bank of Japan.” He said the government's annual economic guidelines to be issued later this month are still being adjusted. “We are currently adjusting the wording based on feedback from members of the ruling party's parliament,” the city said. The media reported last night that the economic guidelines will include an annotation stipulating that the Bank of Japan Act requires respect for the central bank's autonomy.

Japan's Minister of Growth Strategy Minoru Jonouchi said that the independence of the Bank of Japan must be respected, and that the central bank should decide on specific monetary policy instruments by itself. “According to section 3 of the Bank of Japan Act, the Bank of Japan's autonomy in monetary and financial regulation must be respected.” At a press conference held in Tokyo on Friday, Sanetaka Seonguchi said, “The government insists that the specific monetary policy approach should be decided by the Bank of Japan.” He said the government's annual economic guidelines to be issued later this month are still being adjusted. “We are currently adjusting the wording based on feedback from members of the ruling party's parliament,” the city said. The media reported last night that the economic guidelines will include an annotation stipulating that the Bank of Japan Act requires respect for the central bank's autonomy.