Deputy Governor Himino outlines Japan's economic outlook and policy path
Bank of Japan Deputy Governor Ryozo Himino delivered a speech in Wakayama on March 2, 2026. He provided an assessment of Japan's economy and the central bank's monetary policy.
Assessing Japan's economic recovery
Deputy Governor Himino provided an overview of Japan's economic situation, noting the ongoing recovery trajectory.
He highlighted the factors contributing to this recovery, such as improvements in corporate earnings and a gradual increase in private consumption.
The speech addressed the importance of a sustainable and stable economic cycle, emphasizing the role of domestic demand in driving growth.
Himino also touched upon the external environment, acknowledging the impact of global economic slowdowns and geopolitical developments on Japan's trade and industrial output.
He reiterated the Bank of Japan's commitment to fostering an environment conducive to achieving its price stability target, while carefully monitoring various economic indicators to ensure a balanced and resilient recovery path for the nation.
Monetary policy in a changing landscape
Himino elaborated on the Bank of Japan's approach to monetary policy, reaffirming its commitment to achieving the 2 percent price stability target.
He discussed the central bank's framework for guiding monetary conditions, emphasizing the need for flexibility in response to evolving economic data and financial market developments.
The Deputy Governor underscored the importance of maintaining an accommodative stance to support the economy's return to sustainable inflation, while also being mindful of potential risks.
He noted that the BOJ continues to carefully assess the interplay between wages, prices, and economic activity, ensuring that policy adjustments are timely and appropriate to secure long-term stability.