BOJ's Kataoka says 2% inflation is hard to foresee
Kataoka is a persistent dissenter at Bank of Japan policy board meetings, he wants more easing than his colleagues.
- hard to foresee inflation approaching 2% given pace of economic
recovery will be modest
- BOJ will take additional
easing steps without hesitation with eye on pandemic impact,
including re-extending credit programmes
- expect Japan's price growth to stagnate
for prolonged period of time
- personally believe the BOJ must strengthen
easing via YCC, policy commitment
- At the MArch review the BOJ must examine and explain its policy strategy taking into account a lack of prospect for achieving its price target
- BOJ must buy bonds aggressively, lower short and long-term rates to prompt investment into growth areas
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