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- BoJ’s Takata: BoJ must respond nimbly to uncertainty with eye on economic, price outlook
BoJ’s Takata: BoJ must respond nimbly to uncertainty with eye on economic, price outlook
Bank of Japan (BoJ) board member Hajime Takata said on Wednesday, “I believe BoJ must patiently maintain easy policy given very high uncertainty on outlook,” adding that “at the same time, BoJ must respond nimbly to uncertainty with an eye on economic and price outlook.”
Additional quotes
Japan's economy recovering moderately.
Japan seeing early signs of achieving 2% inflation.
There's a chance Japan will see shift in public perception prices and wages won't rise much.
Japan seeing signs of change in corporate wage, price-setting behaviour.
There is sign of change in Japan's trend inflation as rising wages push up inflation expectations.
Inflation is already exceeding BoJ’s 2% target but there is some distance to achieving it stably and in sustainable fashion.
If overseas economies slow sharply, that could weigh on Japan's economy.
Output gap has turned positive, likely to continue expanding gradually.
Real interest rates likely to continue falling, strengthen degree of monetary easing.
BoJ will closely watch market developments to achieve bond market stability with eye on benefits, de-merits of YCC.
Market reaction
USD/JPY is unperturbed by the above comments, holding steady at 147.70, at the press time.
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