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Koji Fujiwara, Chairman of the Japanese Bankers Association, country’s banking lobby, expressed his take on the Bank of Japan’s (BoJ) monetary policy, with the key comments found below.

“BoJ must be mindful of the demerits of prolonged negative rate policy.

BoJ shouldn’t persist on achieving 2% inflation target.

Suggests BoJ adopt a target range for prices, instead of a 2% target.

BoJ should cautiously take steps to make room for future monetary easing.”