BOJ dep gov Wakatabe: BOJ policy is producing results

Bank of Japan Deputy Governor Masazumi Wakatabe in the Diet

• BOJ policy is in the right direction
• BOJ policy is producing results
• want to keep current policy framework, strengthen it if possible to meet the 2% inflation target

I described Wakatabe as " a strong advocate of aggressive monetary easing, he'd also like more fiscal spending"

So, yeah .... if he wants more easing that'd be true to form

earlier today, a wee bit of encouragement for the BOJ from inflation:

• Japanese inflation data for February: Headline CPI: 1.5% y/y (exp 1.5%)

I'd be surprised if they were turning cartwheels, but maybe a small grin breaking out from the grimaces. Hard to tell though prob'ly.