Yutaka Harada, a member of Japan’s central bank – the Bank of Japan, is known for advocating aggressive monetary easing policies.
On Monday, Yutaka Harada a board member from the Bank of Japan defended the central bank’s asset-buying spree program, dubbed as quantitative and qualitative easing (QQE), saying the policy has helped create jobs and boost productivity.
“The biggest contribution QQE has made to Japan’s economy was to boost its productivity,” said Harada.
He went on to add, “Without QQE, Japan’s jobless rate would not have fallen below 2.5 percent”.
Harada is known for his vocal advocacy of aggressive monetary easing on the nine-member BOJ board.