e-NewsletterOctober 28th, 2026
【Webinar on Monetary Policy; Japan, US and Europe】
Japan, US and Europe: Monetary Policy—Current Developments, Outlook, and Challenges
Amid heightened geopolitical risks, including the US-Iran conflict, and growing uncertainty surrounding the international order, the global economic environment remains highly volatile this year. As tensions in the Middle East persist, crude oil prices—which had once begun to decline—are showing signs of rising again, adding to inflationary pressures worldwide.
Against this backdrop, Japan, the US, and the Euro Area share the challenge of containing inflation through higher interest rates. However, the circumstances facing each economy differ significantly, including the pace of economic recovery, wage and price developments, and the relationship between monetary and fiscal policy. In Japan and the US in particular, questions surrounding central bank independence have again come into focus, while the impact of fiscal policy on monetary policy has also become an important issue. In the US, Fed Chair Warsh has also signaled a willingness to reconsider the role of forward guidance, pointing to possible changes in communication with markets and in the way monetary policy is communicated.
In this webinar, we will review the current state and outlook for monetary policy in Japan, the US, and the Euro Area, while also discussing key institutional issues, including central bank independence, the relationship between monetary and fiscal policy, and approaches to policy communication.
| Date ＆ Time | Wednesday, October 28, 2026, 15:00-16:30 (JST) |
|---|---|
| Hosted by | The Institute for International Monetary Affairs (IIMA) |
| Progress | Panelist Presentations and Panel Discussion |
| Event Style | Virtual Event via Zoom |
| Language | Japanese (Simultaneous English translation available) |
| To Apply | Click Here |
Panelists
Tetsuya Inoue
Executive Economist, Financial Market Research Department, Sony Financial Group
Head of Policy Research, FinCity Tokyo
Tetsuya Inoue received his B.A. in Economics from the University of Tokyo in 1985 and his M.A. in Economics from Yale University in 1992. In addition to serving as Counselor at the Bank of Japan, he also served as Secretary to Governor Fukui and as Executive Staff to Dr. Ueda, Member of the Policy Board. In 2008, he joined the Nomura Research Institute, where he conducted research on monetary policy and digital currencies in major economies. Since 2026, he has been responsible for similar themes at Sony Financial Group and FinCity Tokyo. He frequently appears as TV commentator and writes number of articles.
Kazuo Momma
Executive Economist, Mizuho Research Institute
Kazuo Momma is Executive Economist at Mizuho Research Institute*. Before joining MRI in 2016, he served at the Bank of Japan for 35 years, focusing on economic research and monetary policy. His roles included Assistant Governor (2013-16), representing Japan in international fora like the G7 and G20, and Executive Director (2012-13), helping establish the 2% price stability target. He holds a BA in Economics from Tokyo University and an MBA from Wharton.
*Mizuho Research Institute is the name of an internal organization of Mizuho Bank, Ltd.
Moderator
Masatsugu Asakawa
President, Institute for International Monetary Affairs (IIMA)
Masatsugu Asakawa joined the Ministry of Finance, Japan (MOF) in 1981. At MOF, before being appointed as Vice Minister of Finance for International Affairs (2015-19), he held several senior positions, including Executive Secretary to the Prime Minister (2008-09), Deputy Vice Minister for Policy Planning and Coordination, and Director-General of the International Bureau. He also held senior roles at the IMF and the Asian Development Bank (ADB). Additionally, he served as Chair of the Committee on Fiscal Affairs, OECD (2011-16), and as the President of ADB (2020-25). Since July 2025, he has been the President of the Institute for International Monetary Affairs (IIMA). He earned a BA from the University of Tokyo in 1981 and an MPA from Princeton University in 1985.