Comments by BOJ deputy governor Masazumi Wakatabe
- Low inflation despite falling unemployment rate suggests there is still some labour market slack that remains
- BOJ has taken comprehensive steps to ease policy
- Would have to consider additional easing if weakness in price momentum becomes entrenched
- Benefits of YCC policy outweighs the side effects
- Doesn't see a need to adjust policy now
Pretty dovish stuff from Wakatabe as is expected. I would definitely rank him as one of the more dovish members on the board, and his call/mention for additional easing is nothing new. He's been on it for quite a while now.
