BOJ monetary policy board member Sakuria speaking today:
- Monetary policy must seek to maintain as long as possible current tightened supply-demand conditions
- BOJ must aim to hit price goal at earliest date possible but that doesn't mean it will do so recklessly
- Stimulative effect of YCC will heighten as inflation expectations, economy's long-term growth strengthen
- BOJ must seek most appropriate policy with no preset idea with eye on balance of economy's demand, supply
- Undesirable for specific timeframe, indicator to come under too much focus as monetary policy must take into account various uncertainties
- Given weak inflation, now is time to patiently maintain easy monetary policy
- BOJ must ensure prolonged easy policy does not destabilise financial system
Sakurai does not stray far from kuroda's lines at all.
Yen is gaining ground today on geopol and tariff developments weighing on the risk environment. Check this out for a summary ICYMi:
and since then:
