BOJ’s Kataoka: ‘Personally, feel need for additional monetary easing has increased’

Additional headlines are crossing the wires from the Bank of Japan (BOJ) monetary policy board member and dissenter Kataoka, as found below.

Personally, don’t think the economy’s momentum for hitting price target is heightening.

Personally, feel the need for additional monetary easing has increased.

Many central banks are shifting towards an accommodative easing stance, which could have some effect on the global economy.

If BOJ were to ease again, it needs to scrutinize benefits, costs of doing so and respond to any problems that may arise.

Don’t need to be too rigid about the range in which BOJ allows long-term yields to fluctuate.

Some global economic risks are materialising, already having some effect on Japan’s economy.

BOJ must act in a forward-looking manner, shouldn’t wait until the economy worsens in taking action.

His comments contradict Governor Kuroda’s rhetoric that despite heightening risks, Japan’s economy is sustaining momentum to achieve the central bank’s price goal. USD/JPY gains further upside traction on the dovish comments, now hitting fresh session tops near 106.15 region, up +0.17% on the day.