TOKYO (Reuters) – Japanese Finance Minister Taro Aso on Friday said he would continue to work closely with Bank of Japan Governor Haruhiko Kuroda in steering the economy, saying the central bank’s monetary easing has had positive effects on the economy.
“As a result of monetary easing over the past 7-8 years, the yen has been stable at 105-110 yen to the dollar, interest rates remain flat and stock prices have steadily risen. In that sense, there’s no doubt monetary easing has succeeded,” Aso told reporters after a cabinet meeting.
Aso added that monetary policy alone cannot revive the economy and now fiscal policy is called for.
(Reporting by Tetsushi Kajimoto; Editing by David Goodman)