Bank of Japan deputy governor Amamiya reading the approved script
- Momentum for hitting price goal maintained
- Will take time for inflation to reach 2 pct
- Appropriate to maintain powerful monetary easing patiently
- BOJ won't loosen grip on monetary easing just because achievement of 2 pct target is delayed
- Long-term rates may fluctuate up or down around zero pct depending on economy, price developments
- BOJ hasn't changed its long-term target, not assuming rates will keep rising ahead
- BOJ will buy bonds swiftly, appropriately if yields rise sharply
- BOJ's steps this week aimed at sustaining powerful easing with an eye on side-effects
Mr. A speaking in Tokyo today and adding (not too much) to BOJ communication of its decision earlier this week. The headlines from his speech are via Reuters.
More:
- As a whole, this week's boj action will have effect of strengthening monetary easing
- Mindful that financial intermediation could deteriorate if powerful monetary easing continues
- No change to boj's stance of scrutinising risks such as effect on financial intermediation
- BOJ will guide policy so economic improvement, stable prices co-exist
- Limits to how much central banks can lower rates
- 2% inflation is a global standard, keeping this is important in achieving stable FX rates
