The Bank of Japan urged to support the country’s economy with low rates

Future Bank of Japan deputy governor Ryozo Himino said on Tuesday the central bank needs to focus on supporting the economy with ultra-loose monetary policy, despite the negative impact that prolonged low interest rates are having on financial institutions’ profits.”Indeed, the current policy of the Bank of Japan has side effects,” Himino said, speaking in the upper house of the Japanese parliament. “However, if you look at trending inflation, you can see the first encouraging signs of movement towards price stability.”