BOJ board member Shirai spoke late yesterday in Singapore … headlines from her speech are crossing the wires now. Nothing too remarkable, of course:
- BOJ’s goal of ‘sustaining 2 pct inflation in stable manner’ is equivalent to stabilising long-term inflation expectations at around 2 pct
- Transforming public’s deflation mindset will take some time but positive developments gradually starting to spread
- BOJ sees long-term inflation expectations in moderate rising trend, must closely monitor whether this trend will continue
- Assigning too many objectives to monetary policy without allocating sufficient policy tools may be potentially problematic
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Please help ForexLive fight the scourge that is insomnia. Here is the full text of Shirai’s speech: “Recent Monetary Policy Trends in Advanced Economies and the Asia-Pacific Region” (Keynote Address at the National Asset-Liability Management Conference Held in Singapore)