Recap of Sakurai speech - BOJ to stick with its current framework for monetary easing
Headlines are here from earlier: BOJ's Sakurai: 2% inflation target can also help stabilise yen FX rate
Reuters now with a bit of a recap:
- Bank of Japan board member Makoto Sakurai said on Wednesday the central bank needs to stick with its current framework for monetary easing as the effects of stimulus become stronger as economic growth picks up.
- "As long-term growth potential improves, people's perception of prices will change, which will raise the natural rate of interest," Sakurai said, referring to the point at which interest rates match potential economic growth."This will lower real interest rates and make monetary easing more effective over time. This is why it is vitally important to continue easing with our current framework.
Little movement for the yen today at all.
Note. The Bank of Japan policy board meets on October 30-31