BOJ Gov Shirakawa: Want people to respect BOJ’s independence

Good Luck with that one pumpkin :)

  • Seeking 3% inflation in Japan is unrealistic (that’s what I’ve been sayin)
  • BOJ already buying massive amount of JGBs
  • History shows importance of maintaining a central bank’s independence
  • BOJ underwriting govt debt would lead to reckless money printing
  • No central bank of advanced economies underwrites govt debt
  • Sees no need to change economic scenario in outlook report
  • Setting negative rates could discourage banks from seeking funds from BOJ in market operations
  • Japan economy still on track to recover due to expected rebound in overseas economies
  • Bond yields may spike, hurt economy if BOJ’s JGB buying is interpreted as debt monetisation
  • Japan domestic demand likely to improve as overseas economies recover
  • BOJ will continue to seek ways to revive growth but structural reforms to boost economy’s potential also important
  • Any debate on revising BOJ law must be done with caution, spending good amount of time
  • Must monitor if fallout from Japan-China tensions will worsen

3 Comments

  1. I agree with everything Mr. Shirakawa says. Shinzo Abe has been talking like a nutcase. USD/JPY ripe for a retrace methinks.

  2. Mr. Shirakawa´s policy is to leave Japan where it was the last 20 years: in depressions. His policy is a joke! I hope LDP will gain power and make this clown of a central banker redundant soon!

  3. yeah, yeah, all that is common sense. But Shirakawa is soon to be gone, so…

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