Japan’s central bank is pursuing a special monetary policy path.
(Photo: AP)
Tokyo, Hong Kong Hopes of continued low interest rates in Asia boosted the stock market in Japan on Tuesday. Investors were buoyed by confidence that central banks in the region will continue to pause or end their rate-hiking cycles regardless of the Federal Reserve’s actions.
The new governor of the Bank of Japan (BoJ), Kazuo Ueda, said in his inaugural speech that it was appropriate to stick to the ultra-loose monetary policy for the time being. In addition, the central bank of South Korea maintained its interest rates for the second time in a row in its decision on Tuesday.
Natixis Corporate and Investment Bank analyst Gary Ng said Asia was more cautious about raising interest rates as economies’ determination to sustain growth outweighed concerns about containing inflation, which was a bigger problem in the US and Europe.
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