The United States and Europe are learning from the Japanese example and are watching. It shows what the central bank has done when unfortunately interest rates had to be lowered to zero.
More Quotes from Teizo Taya:
We will probably see strong fourth-quarter growth numbers, and there are no domestic factors that could derail the economy. The central bank will probably end quantitative easing in April.Teizo Taya
The BOJ policy shift marks a symbolic step toward the normalization of the Japanese economy. The central bank will eventually move to raise short-term rates from zero, and that's a necessary process for Japan to achieve sustainable economic growth.
Teizo Taya
I see a 60 percent chance of a rate increase in the fourth quarter of this year and a 40 percent chance in the third. Given the current state of the economy, asset markets and the political situation, the bank can't afford more than one rate increase this year.
Teizo Taya
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