• Need to carefully watch global market moves
  • Yen’s relative value at quite high level compared with prior to Lehman crisis
  • Will not say there is nothing more monetary policy can do
  • Need to do utmost to prevent euro debt woes from triggering global financial crisis
  • BOJ always thinking what more it can do to achieve sustainable economic growth
  • BOJ already taking bold monetary steps
  • Must first strive to achieve 1% price growth before aiming for higher inflation
  • Giving impression BOJ buying JGBs to monetise debt will harm market trust in Japan finances
  • Cannot rule out chance of Japan, like Europe, facing sudden spike in bond yields
  • Euro zone needs to lay out details on regaining market trust in its financial system