Bank of Japan (BOJ) will maintain the ultra-easy monetary policy as long as needed to achieve the 2% inflation target, board member Wakatabe said on Thursday.
Wakatabe further stressed that the normalization of policy is unlikely unless the economy and prices return to a normal state.
Key quotes (Source: Reuters)
- Japan’s economy likely to expand moderately as a trend as overseas growth likely to pick up somewhat.
- If QQE was not put in place Japan’s economy would not have achieved the state where it was no longer in deflation.
- QQE had a strong stimulus effect on the economy and prices .
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