BOJ speech - Deputy Governor Amamiya: Japan's Economy and Monetary Policy

Author: Eamonn Sheridan | Category: Central Banks

Full text of his speech can be found here. 

Headlines via Reuters: 

  • Japan's economy picking up as a trend
  • corporate profits under pressure from rising global commodity costs but likely to continue improving
  • consumption stagnating but likely to recover ahead
  • Japan's economy is likely to see positive cycle strengthen as positive moves in corporate sector spread to households
  • risks to Japan's outlook skewed to the downside for the time being
  • if vaccinations accelerate, economic activity could heighten more than expected
  • must scrutinise impact of global commodity inflation on japan's economy
  • there is uncertainty on how pandemic affects companies' price-setting behaviour
  • BOJ must continue powerful monetary easing

Amamiya painting as a good a pic of Japan's economy as he thinks he can get away with. That last bullet point is the money shot though ... policy to remain very accommodative indeed from the Bank of Japan. But we know that. 


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