By Leika Kihara
TOKYO (Reuters) – The Bank of Japan’s new board member Junko Koeda said on Wednesday the country’s real interest rates are currently “extremely low.”
She also told a news conference that Japan’s economy was making some progress in achieving an environment where price rises are accompanied by higher wages.
“Looking at various indicators, we can say Japan’s underlying inflation is heading towards” the central bank’s 2% target, said Koeda, who joined the nine-member board on Wednesday.
The government in January nominated Koeda, an academic who had warned of the cost of prolonged monetary easing, to join the board, replacing Seiji Adachi.
(Reporting by Leika Kihara; Editing by Christian Schmollinger)
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