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Given the current economic situation, we need to be mindful of chance downside economic risks materialize and affect prices, said the Bank of Japan (BOJ) Deputy Governor Wakatabe on Wednesday.

Key Quotes:

BOJ expects inflation to gradually accelerate.

Downside risks exist over BOJ’s economic, price forecasts.

BOJ will carefully examine economic, price moves to check whether mechanism for hitting price goal is working.

BOJ won’t hesitate to take additional easing steps if momentum for hitting price goal is lost.

inflation has yet to reach BOJ’s goal, risk of Japan returning to deflation cannot be ruled out.

BOJ expects global economic growth to gradually pick up.

More to come ..