March 11, 2016 / 1:45 AM / 3 years ago

Japan's Aso: hopes BOJ to continue efforts to meet price target

Japan's Finance Minister Taro Aso delivers his policy speech at the lower house of parliament in Tokyo, Japan, January 22, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Friday he hoped the Bank of Japan would continue its efforts to achieve its 2 percent price target, while suggesting that specific monetary policy steps were up to the central bank to decide.

The adoption of negative interest rates by the BOJ is already having an impact such as bringing down housing loan rates, Aso told reporters after a cabinet meeting.

The BOJ is set to hold off cutting interest rates at next week’s rate review, sources said, as it scrambles to soothe market jitters caused by January’s surprise decision to adopt negative rates.

Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim

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