Bank of Japan monetary policy board member Naoki Tamura says its appropriate to keep easy monetary policy at present
Personally feel sustained, stable achievement of 2% inflation target is clearly in sight
Appropriate to keep easy policy now given uncertainty over prospects for hitting price goal
We are in a phase where we need to humbly look at wage, price developments
Hoping we will have further clarity around January-March next year on prospects for hitting price goal
Don’t expect 10-year yield to rise to 1.0%, new cap is set as protective measure
Uncertainty over Japan’s economic, price outlook very high
BOJ’s step in July aimed at making operation of YCC more flexible
Corporate price-setting behaviour has changed from period of deflation
Positive cycle between wages, inflation being seen as wage rises improve consumer sentiment
Japan’s exports, output moving sideways, capex rising moderately
Japan’s economy likely to keep recovering driven by domestic demand
Japan’s inflation likely to slow for time being, then accelerate moderately again
Can’t rule out chance inflation may overshoot expectations
I believe we can expect high wage growth in next year’s spring wage negotiations