BOJ shouldn't rush into easing further given side effects of ultra-loose policy
- next half year will be time where BOJ needs to carefully scrutinise economic developments due to tax hike impact, delay in global growth pick
- Japan could slip back into deflation if overseas slowdown bigger than expected, push output gap into negative territory
- BOJ must prepare in case further policy response becomes necessary with eye on overseas growth, Japan's economic outlook
'Shouldn't rush to ease further' is something to note. IMO.
The BOJ will if needed (as they always say) but this is cautionary note.