New Bank of Japan Gov. Kazuo Ueda gave a clear message to policymakers gathered for global finance meetings in Washington over the last week: The country will remain a dovish outlier by keeping interest rates ultralow — at least for now.
Since taking the helm a week ago, Ueda has dropped some hints the massive stimulus of his dovish predecessor Haruhiko Kuroda will eventually be phased out.
But discussions over when and how to shift away from the ultraloose policy will take time, giving Ueda every reason to reassure the world any change won't happen quickly.