Further comments by BOJ deputy governor nominee Amamiya at the upper house confirmation hearing in parliament
- Economy is proceeding with path towards 2% inflation target
- Benefits of easing policy is outweighing costs
- Oil prices have had big impact on Japan's economy
- Oil price fall and sales tax hike are reasons why inflation is not at 2%
- BOJ has no plans to issue digital currency at the moment
- Cryptocurrencies unlikely to have ripple effects on monetary policy
- Communication with markets is very important when the BOJ does exit easing policy
- BOJ can exit gradually while securing market stability
- BOJ has sufficient tools for smooth exit
- How and in what combination to use those tools will depend on economic and price conditions at the time
- What's most important in exiting easing policy is communication with markets
His earlier comments can be found here.
Nothing new so far from Mr BOJ as well, and he's already speaking as though he has gotten the post. And judging by Wakatabe's "more-dovish-than-Kuroda" stance here, I think the BOJ could really use without another extreme dove - especially when prime minister Abe is looking for the BOJ to step up their game in Kuroda's second term.
Well, he's now emphasising a lot on exiting from easing policy - whereas Wakatabe's speech was mainly about what other tools the BOJ can deploy to ease further. That's the difference between the two so far.
