Japan No Longer Needs Excessively Loose Monetary Policy: Minister

Japan's Economy Minister Minoru Kiuchi stated that the country no longer needs excessively loose monetary policy, as it is no longer in a state of deflation.

Kiuchi made these comments during a post-cabinet meeting news conference on Friday, when asked about a summary of opinions from the Bank of Japan's (BOJ) September meeting.

The BOJ's summary showed a government representative calling for caution over further interest rate hikes, but Kiuchi declined to comment on whether the administration was opposed to such increases.