BOJ’s Ueda says his goal was to achieve simpler policy framework

TOKYO: Bank of Japan Governor Kazuo Ueda said on Monday that making the central bank’s monetary policy framework simpler and easier to understand was among goals he had in mind when taking the bank’s helm in April last year.

“When I assumed my post a year ago, I felt the BOJ’s policy framework had become a technically difficult one due to various reasons. If economic conditions allowed, I had hoped to make the framework simpler and easier to understand,” Ueda said.

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“Thankfully, the economy was in fairly good shape in the previous fiscal year (that ended March), so I was able to fulfil my mission,” he told parliament.