Bank of Japan board member, Makoto Sakurai

Also:

  • BOJ will strvie to aid corporate funding, maintain markt stability
  • must take swift, appropriate action as needed if economy's recovery is delayed due to pandemic
  • monetary policy only has an indirect impact in stimulating economy via financial institutions
  • Japan will see increase in bankruptcies, job losses and fall in potential growth if it takes longer than expected to contain pandemic

On this:

  • says the Bank's easing is exerting the intended effects

The main effect sought is a 2% inflation rate.

So.

No it is not.