Bank of Japan board member Takako Masai speech
- downside risks to Japan's economy, prices have subsided somewhat but remain high
- BOJ must ease without hesitation if risks materialise, increase chance economy will lose momentum for hitting price goal
- it is natural concerns emerging that prolonged global low rates could encourage firms, investors to take on more risk
- I am aware of such concerns, including how declining rates of return on pension products could have negative impact on economic activity
- it is still indispensable that japan persistently continue with current monetary easing to overcome deflation completely
- BOJ will devise measures considered necessary at the time, conduct policy in appropriate manner with eye on pros, cons of its policy
- global economy expected to grow moderately on the whole, though it will take some time for growth pace to pick up
- Japan's economy to continue expanding moderately as a trend
- some positive signs seen in external demand, consumption likely to increase gradually as impact of tax hike peters out
- must be vigilant to impact of coronavirus on global economy, Japan's corporate and household sentiment
- key to outlook for Japan's domestic demand is whether moderate uptrend in consumption will be sustained
Headlines via Reuters,
Same old script from Masai.
the thing about getting this stuff over and over again is that when there is a change in rhetoric it is easily noticeable.
