By Leika Kihara
TOKYO (Reuters) -Japan’s banking sector is sound but authorities must be vigilant to the fact credit concerns have spread globally at a very fast pace, Finance Minister Shunichi Suzuki said on Wednesday.
“We’re not complacent and closely watching the impact of various risks, working closely with the Bank of Japan and counterparts of other countries,” Suzuki, who is also the minister in charge of banking regulation, told parliament.
Suzuki declined to comment on whether the Bank of Japan (BOJ) should maintain ultra-low interest rates under incoming new Governor Kazuo Ueda, saying that the central bank had jurisdiction on specific monetary policy decisions.
“We hope the BOJ conducts appropriate monetary policy with an eye on economic, price and financial developments while working closely with the government,” Suzuki told parliament, when asked by a lawmaker on future BOJ policy.
(Reporting by Leika Kihara; Editing by Jacqueline Wong and Christian Schmollinger)
