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BOJ’s Amamiya says Fed rate cut positive for Japan’s economy By Reuters

BOJ's Amamiya says Fed rate cut positive for Japan's economy By Reuters

ECONOMIC NEWS

BOJ’s Amamiya says Fed rate cut positive for Japan’s economy By Reuters



KAGOSHIMA, Japan (Reuters) – Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday the U.S. Federal Reserve’s decision to cut interest rates would likely have a positive effect on the global and Japanese economies by keeping U.S. growth on a solid footing.

He also said the BOJ, like other central banks, stood ready to ramp up stimulus “without hesitation” to pre-empt risks of the economy losing momentum toward achieving its price target.

“Japan’s economy is sustaining its momentum to achieve our price target,” Amamiya said in a speech to business leaders in Kagoshima, southern Japan. “But we need to guard against the risk of this momentum being lost.”

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