Bank of Japan policy board member Hitoshi Suzuki speaking
- Important to patiently maintain powerful monetary easing
- Some distance to achieving price target but economic expansion continuing
- Short-, long-term rates at levels in line with BOJ's policy guidance
- Must watch how massive monetary easing affecting Japan's economy, prices, financial developments
- Prolonged easing lowers borrowing costs for firms but also weighs on financial institutions' profits
- Must carefully watch how US, European monetary policy normalisation affects bond yields, emerging market fund flows
- Japan upward pressure steadily increasing as labour market tightens
- Making slow but steady progress in hitting BOJ price target
Suzuki will be following u with a press conference later (due at 0500 GMT)