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Japan’s inflation rate is slightly positive when stripping away temporary factors such as effect of crude oil price falls, govt travel discounts.

FX rates moves on various factors such as economy, interest rate differentials.

Having joined discussions at G20, believe global consensus is to avoid premature withdrawal of fiscal support.

Rises in the US treasury yields reflect hopes of economic recovery, don’t think it will cause big problems ahead.

Don’t think it’s necessary, appropriate to widen band around BOJ’s long-term rate target.

Now is time to keep yield curve stably low as COVID-19 still affecting economy.

BOJ must buy ETFs flexibly when its presence is needed to address sharp widening of risk premia.


more to come …