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- BoJ’s Adachi: Can't say now whether Yen moves would affect economy, prices
BoJ’s Adachi: Can't say now whether Yen moves would affect economy, prices
Bank of Japan (BoJ) board member Seiji Adachi is back on the wires on Wednesday, expressing his take on the central bank’s monetary policy and exchange rate outlook.
Key quotes
There was no policy implication to BoJ’s single-day decrease in bond buying.
Don't have strong view on whether BoJ bond buying reduction should come soon, or later.
We will more carefully watch long-term interest rate moves.
If current FX moves persist, that will certainly have impact on economy, prices.
We will of course respond with monetary policy if FX moves have material impact on economy, prices.
Can't say now whether Yen moves would affect economy, prices.
BoJ will need long time, seek view by various experts, in deciding what to do with its ETF holdings.
We should reduce bond buying in several stages so that long-term yields better serve as market signal.
Don't have preset plan, idea on how soon to reduce BoJ’s bond buying.
My inflation forecasts haven't changed much from April.
Appropriate to adjust interest rates at slow pace if underlying inflation steadily moves toward 2%.
Too early to consider specific timing on next rate move.
Market reaction
USD/JPY keeps its range play intact above 157.00 following these comments, adding 0.05% on the day.
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