Bank officials warned that the United States the day before yesterday premature rate hike will repeat the mistakes of Japan

Updated: October 20, 2015  Views: 17

Remittance Network October 19 hearing - before the BOJ [microblogging] (BOJ) officials of the Central Plains Nobuyuki (Nobuyuki Nakahara) pointed out that the Federal Reserve (Fed) to raise interest rates if prematurely, may have to re-take the risk of error in Japan.

When the Central Plains in the early 2000s had voted against the Bank of Japan to raise interest rates. The Bank of Japan in August 2000 ended the zero interest rate policy of the Central Plains have raised objections and appeals in three months after the Bank of Japan quantitative easing (QE) policy immediately.

With domestic and international economic situation in Japan deteriorated, the Bank of Japan in March 2001 to give up the austerity began to implement quantitative easing policy. This policy continued until 2006.

October 16, the Central Plains interview with reporters in Tokyo, said that if the Fed to raise interest rates, the Bank of Japan that they will repeat the same mistakes, which he no doubt.

Central believes that real wage growth before the Fed rate hike should not take any measures, he said, ending the Fed QE3 is a very good program, the policy can no longer implement it.

Central worked at the Bank of Japan from 1998 to 2002, he is now Prime Minister Abe monetary policy economist, an informal advisory group member.

New York Fed President Dudley (William C. Dudleys) last week pointed out that as long as the economy back on track, the United States should raise interest rates this year. But the Fed governor Brainerd (Lael Brainard) and Tarullo (Daniel Tarullo) said they prefer of the first rate hike in 2006 after time to be patient.

The Federal Open Market Committee (FOMC) will meet to decide whether to raise interest rates in the 27 to 28 October.

Bank of Japan monetary policy meeting will be held later this month, the Central Bank of Japan may postpone the introduction that the economic stimulus plan, on the grounds that the foreign exchange market stability. Get Top News, Latest News and Current News from Latest Current News: U.S., China, World, Entertainment, Health, Finance, Business, echnology, Travel, Politics, Sports.