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Bank of Japan (BOJ) new board member Toyoaki Nakamura, said in his welcome speech on Wednesday, its hard for BOJ to simultaneously take steps to achieve price goal and measures to combat the pandemic.

Further comments

“BOJ has coped well with the impact from the virus fallout so far.”

“Need to watch the benefits, side effects of policy.”

“BOJ has been a pioneer of policy tools.”

“Doesn’t think that BOJ is financing debt with its operations.”

“Must respond early depending on economic conditions, with an eye on covid-19 infection numbers.”

“For business executives, the desirable environment is for the economy to see gradual inflation of around 2%.”

“Japan’s economy is now seeing demand evaporate.”