The Bank of Japan (BoJ) Deputy Governor Amamiya is on the wires now, via Reuters, expressing his concerns on achieve the 2% price target.
Key Points:
Momentum for hitting price goal maintained.
Will take time for inflation to reach 2 pct.
Appropriate to maintain powerful monetary easing patiently.
BoJ won’t looe grip on monetary easing just because the achievement of 2 pct target is delayed.
Long-term rates may fluctuate up or down around zero pct depending on the economy, price developments.
BoJ hasn’t changed its long-term target, not assuming rates will keep rising ahead.
BoJ will buy bonds swiftly, appropriately if yields rise sharply.
BoJ’s steps this week aimed at sustaining powerful easing with an eye on side-effects.
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