Comments from Bank of Japan board member Ishida:

  • Must look carefully without any preconception whether risks are building for Japan's financial system as a result of QQE
  • Don't see signs of huge financial imbalances, excessive risk-taking building up for now
  • Don't think it is appropriate to strip away food costs in gauging Japan price trend as food makes up a quarter of households' total spending
  • Expects overseas economies to recover gradually
  • Must be vigilant to heightening disinflationary trend, build-up of excessive slack in China
  • Emerging economies somewhat weakening with China's slowdown weighing on other Asian economies
  • Inflation seen accelerating towards BOJ's 2% target as underlying price trend steadily improves
  • Risks to Japan's economic outlook are mostly from overseas developments such as emerging economies, Europe's debt woes and pace of US recovery

I don't know where Ishida is speaking ... I didn't see him on any schedule

Headlines via Reuters