Bank of Japan governor hospitalized ahead of June policy meeting
The Bank of Japan said its governor has been hospitalized and will miss the June 15-16 policy meeting. The central bank expects the meeting to proceed with remaining board members and raise its short-term interest rate target to 1 percent.
Financial TimesThe Bank of Japan said Wednesday that its governor has been hospitalized for medical treatment and will miss the June 15-16 policy meeting. The central bank stated the governor will submit policy views in writing but will not participate in the vote. It is the first time the governor has missed a policy-setting meeting since the current decision framework began in 1998.
Meeting expected to raise rates The Bank of Japan is expected to raise its short-term interest rate target to 1 percent at the meeting. That level would be the highest in three decades, according to reporting by the Financial Times and Japan Times that cited central bank announcements and economist surveys.
The central bank has faced sustained inflationary pressures. No statements from the governor or the Bank of Japan addressed the operational impact of the absence.
Details on condition limited The central bank has not released details on the nature of the medical treatment or the expected length of hospitalization. The governor is 74 years old. The meeting will proceed as scheduled with the remaining board members, the central bank said.
