The economic policies of US President Donald Trump are generating a lot of uncertainty in the Bank of Japan’s Monetary Policy Committee, according to the minutes of its last meeting published on Wednesday.
“Although overseas economies have turned to a moderate recovery, uncertainties are likely to persist, such as the economic policy of the new US administration and its impacts on emerging economies,” one of the committee members said at the meeting, according to the document released on Wednesday.
The meeting was held between January 30 and January 31. According to the news report, the potential factors of instability include “the policy stance of the new US administration and how the negotiation of Brexit will play out”, Efe news reported.
The committee said in the meeting that upcoming spring elections in Holland and France, where according to polls right wing parties are tipped to win, also make it difficult to predict a specific economic scenario.
In less than a month since taking office, Trump has withdrawn from the Trans Pacific Partnership, the cornerstone of the Japanese government’s growth plan, and criticized the Asian country’s trade practices and its central bank’s monetary policy, while advocating a protectionist approach for the US.
These matters will be the priority in the agenda of the meeting between Trump and Japanese Prime Minister Shinzo Abe in Washington on February 10.