BOJ’s Funo: Important to continue powerful easing to hit price target
|More headlines crossing the wires from the Bank of Japan (BOJ) Monetary Policy Board member Yukitoshi Funo, as he speaks at a meeting with business leaders in Sapporo.
Key Points:
Important to continue powerful easing to hit price target
Price momentum still insufficient for CPI target
Must push down real interest rates sufficiently to guard economy against negative shocks
Various overseas uncertainties remain such as US economic policy outlook, developments in emerging economies, geopolitical risks
Expect employees' income to gradually increase but there is a risk companies may remain cautious in raising wages
Japan's private consumption likely to increase moderately as a trend
Japan still has room to increase productivity, key to do this with less pain is to promote growth strategy
Easy monetary conditions, tight labour market offer good chance to pursue structural reform, growth strategy
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